Up by 43.9 per cent from 1 September
Gas prices on the Isle of Man will rise by 43.9 per cent in September.
The All Island tariff is increasing by 6.8p per unit – from 15.4377p to 22.2106p per unit.
Islands Energy Group – the parent company of Manx Gas – is blaming continued disruption in the global energy market.
Gas prices were last increased in April 2022 with the latest increase representing an increase of £677 per year for the average customer.
Chief executive Jo Cox said: “Extreme volatility in the global energy market saw commodity costs spiral to unprecedented levels last winter and recent supply reduction and disruption by Russia have pushed them higher again.
“We understand that tariff increases are incredibly difficult for our customers to manage but, given the increase in the price of energy on wholesale markets, they unfortunately cannot be avoided.”
She told Manx Radio she knows people will struggle with the increase:
Payment plans will be offered and the company says it will continue to offer ‘specific provisions’ for those customers who require extra support.
The changes will come into effect on 1 September.