Balancing economic value, environment, and security.
Economic Value
- Gas development will deliver more tax revenues to the Isle of Man than the proposed windfarm.
- Gas development could provide gas at lower prices and capped to reduce impact of price spikes.
- Gas development could provide electricity at lower prices at the expense of higher emissions.
Wider local economy:
- Gas development has less negative impact on tourism and fishing.
Net Zero:
- Gas Development is the lowest emission route if Electricity is supplied from the UK through an interconnector with further emissions reductions with a CCS scheme.
Energy Security
- A local gas supply provides the most secure energy for gas and for electricity through local generation if desired. Offers options for local generation backup should interconnector supply fail.
The choice lies with Tynwald:
A gas development with CCS electricity generation for lowest emissions but high electricity prices.
A gas development with on-Island electricity generation for lowest electricity prices but higher emissions.