The MEA says it has saved between ?5-6million this year with its policy of buying fuel in advance.
It comes as the island prepares its for a swingeing 16% increase in the electricity tariff, both domestic and commercial, at the beginning of September. Today a 22% increase in gas prices also comes into force.
Ashton Lewis (pictured) Chief Executive of the MEA says their 'hedging' or buying ahead policy has helped to an enormous extent:
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