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Chief minister makes gas price pledge

Issue raised in Tynwald

Chief Minister Allan Bell says a 2008 agreement to allow Manx Gas to earn a 10 per cent return on its capital investment was agreed by government. 

This morning in Tynwald, he faced questions from Onchan MHK Peter Karran about why that level was so high when companies in the UK earn just eight per cent.

 

Mr Bell explained Manx Gas, Treasury and the Office of Fair Trading had agreed the 10 per cent figure would be fair to consumers and the company.

 

But he promised if the system wasn't working, government would look at it again:

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