Manx Gas says government 'declined' hedging request

Company says Manx Utilities perceived it as 'credit risk'

Manx Gas has claimed it was blocked from forward buying energy by the Isle of Man Government. 

The chief executive of its parent company - Islands Energy Group - has told a Tynwald committee Manx Utilities wouldn't hedge for it in October last year.

Hedging is the process of locking-in energy at a set price to protect against potentially harmful future price movements. 

Jo Cox said it was due to the authority perceiving Manx Gas as a 'credit risk':

Manx Radio has invited Manx Utilities to respond.