Gas prices to drop by 16% in March

CURA review into tariffs has concluded

Isle of Man Energy has been told to reduce the price of gas by 16 per cent.

The Communications and Utilities Regulatory Authority has now finished a review of tariffs which started in January.

From 1 March the unit price of gas will drop from 16.67p per unit to 13.98p.

The price drop will remain in place until December – with an interim review carried out in June.

In an Information Notice issued today CURA said: “Consumers can take confidence from the fact tariffs are being carefully managed to ensure that they remain fair, representative of the cost of the service and that efforts are being made to avoid large movements going forward.

“The authority will continue to monitor the situation and will take action in the best interests of consumers as needed.”