Manx Gas is blaming high prices in the world’s energy markets for a price hike later this month.
From August 16, the company says it’ll put up its prices by 3.5 per cent and put the same amount onto standing charges.
It means the average bill will go up by around £27 a year.
Manx Gas commercial director John Davies says the increase is regrettable but the firm can’t continue absorbing rising costs.
The last time prices went up was in January this year – but Manx Gas says that increase was outside the annual tariff review to establish an all-Island central heating price.
Mr Davies says the decision to put up prices was taken reluctantly but estimated costs for the rest of this year are above expectations.
He claims Manx Gas has tried to keep its prices down and says the last tariff increase was in May last year.
The Office of Fair Trading has been informed of the new prices.
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