Regulator recommends 2.8 per cent reduction in gas tariffs

Isle of Man Energy subject to mid-year review

The Island's energy regulator has recommended a reduction in gas tariffs.

The Communications and Utilities Regulatory Authority has issued a notice this morning based on a mid-year review saying tariffs should be brought down by 2.8 per cent.

Higher demand for gas than anticipated over the past six months means the cost of running the network is 'more than covered' by the current tariff levels.

This, it says, means there's a small risk of Isle of Man Energy 'over-recovering' and making more profits than it is allowed.

Any changes are due to be brought in next month.

CURA says the next review is due in November, with any update to tariffs to be implemented in January 2025.

Manx Radio has contacted Islands Energy Group for comment.