No obligation to consider profit margins, says authority
The island's energy supplier regulator says Manx Gas is wrong to claim that an automatic request to increase tariffs is placed with them when a minimum profit level isn't reached.
The Communications and Utilities Regulatory Authority has issued a statement in which they say no agreement is yet in place so there's currently no obligation to consider profitability margins.
Manx Gas is asking to increase tariffs for the second time in recent months as global costs continue to remain high.
Around twenty-thousand customers were hit by a hike of twenty-seven and a half per cent in their bills in the first increase with the prospect of that going up even more in the New Year.
You can read the full statement from CURA here.
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