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On Island gas prices set to increase if Tynwald grants approval

Unit prices set to rise by 2.1 pence

Gas customers on the Isle of Man could be hit with increased bills if Tynwald agrees to increase the price cap.

The Communications and Utilities Regulatory Authority – which regulates the gas market – says it's due to the 'unprecedented increase' in gas prices across the globe.

A unit of gas now costs Manx Gas more than it is able to charge its customers – if Tynwald agrees to the changes, requested by the company, each unit would go up by 2.1 pence.

CURA says the situation is 'unfortunate but unavoidable' adding there is 'little that can be done' to alleviate the impact on customers on the Island.

Tynwald will be asked to approve the changes at this month's sitting of the court.

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