The island has spent £17m on electricity imported via the interconnector over the last three financial years, Manx Utilities Chairman John Wannenburgh has confirmed.
Answering a question from Arbory, Castletown and Malew MHK Jason Moorhouse, Mr Wannenburgh said spending was £8.2m in 2022/23, £5.3m in 2023/24, and £3.5m in 2024/25.
The percentage of this power classified as green through renewable energy guarantees of origin (REGO) certificates rose from 11% to 27% over the same period.
Mr Wannenburgh stated this proves “the demand for green, clean energy is rising amongst all the businesses”.
He later confirmed that providing 100% green electricity through the interconnector would cost “almost a million pounds a year” more, adding “obviously, we’re not going to be doing that.”
Juan Watterson SHK highlighted that the island is a net exporter of electricity, which Mr Wannenburgh called “a good news story,” revealing the interconnector has generated £230m in revenue and £80m net profit over 25 years.
This article has been corrected to reflect the net profit caused by mishearing the figure in Tynwald. Our thanks to MUA for pointing this out.