The former CEO of the Manx Electricity Authority has told the Junior Chamber of Commerce "look to water power for real returns in energy".

Mike Proffitt, Chief Executive Officer of the AIM listed company, Renewable Energy Holdings spoke to a breakfast audience in the Claremont Hotel on Tuesday.

He described why 'renewable' is so much the buzz word in energy today and why returns on investment in the sector are high. It is because Governments are obliged to invest in renewables, after the Kyoto agreement..

He also said that wave power outstripped wind power in terms of returns: