Price index change would be 'premature'
Manx Utilities says it won't change the way it sets price rises until government adopts a single, standard method of measuring inflation.
That's according to MU Chairman Dr Alex Allinson, after the authority used the Retail Price Index (RPI) to set a 6.4% hike in the Island's water rate.
In the House of Keys today, Dr Allinson said it would be 'premature' to stop using RPI, which is established in Manx Utilities' long-term business plan.
That's despite criticism it is much higher than the Consumer Price Index (CPI), the benchmark for the government's monthly inflation rate, currently 1.9%.
North Douglas MHK David Ashford says the RPI is not a fair or accurate measure:
Chief Minister: I hope that cabinet reshuffle can 'stop the fighting'
MNFU implores Tynwald to 'include the industry in its considerations regarding employment'
Afternoon sailings cancelled due to adverse weather
Former chief minister says government should be 'service first cost second'
'All Island Bluetongue restriction zone' introduced