Regulatory cut also on the way
Manx Gas says its bills are already lower – after it dropped its prices earlier this week.
The company, based on South Quay in Douglas, says it’s reducing its tariffs by 3.5 per cent – taking effect from last Friday.
As well as the announced reduction, Manx Gas also says it’ll cut the unit price of gas by less than a tenth of a penny under what it calls a regulatory adjustment.
The Office of Fair Trading and Manx Gas have an agreement where the firm won’t be regulated if it keeps its profits under 10 per cent.
Managing director Tony Nicholls says the price drop comes after a similar reduction in January and described it as good news for customers.