Electricity prices to increase 1.5% in April

Manx Utilities says below inflation rise is designed to limit impact on customers

Electricity prices on the Isle of Man will be increasing by 1.5 percent in April.

Manx Utilities has announced the rise, along with a 2.9 percent increase to water and wastewater charges.

The board says the electricity uplift is below inflation, and reflects its decision to limit the impact on energy customers while still supporting the financial resilience of essential services.

In a statement, MU states it recognises energy costs have placed real pressure on households and businesses in recent years, and had absorbed around £40million in costs by shielding customers from sudden bill shocks.

It adds that wholesale energy prices and geopolitical uncertainties continuing to influence the cost of supplying power to the Island, although around 75 percent of the Island's natural gas requirements for the 2026-27 year have already been secured.

From 1 April, the unit rate for electricity will be 29.5p/kWh, with a standing charge of 25.5p per day.

Manx Utilities estimates this will mean a typical domestic customer pays £937 over the course of a year, which is an increase of £14 per year.

Help is available to customers who may face financial pressures, including SmarterPAYG prepayment, flexible payments plans and advice on reducing energy.

Customers can contact Manx Utilities on 687675 or by emailing accounts@manxutilities.im