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Gas prices 'may need to be reduced' says CURA

Regulator triggers review into Isle of Man Energy's tariffs

The Island's gas regulator is reviewing whether gas prices on the Isle of Man need to be reduced.

The Communications and Utilities Regulatory Authority has triggered the review due to recent movements in the wholesale market.

CURA says wholesale prices were significantly higher in August when the body last reviewed tariffs.

However it stresses the market remains volatile and there is no guarantee prices will remain lower for a sustained period.

A decision will be issued in due course.

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