Isle of Man Energy will be reducing gas prices by 2.8% from July 1.
It says this is as a result of recent decreases in natural gas pricing in the global energy market.
The decrease is the second price drop in 2024, after tariffs were reduced in January by 16.6%.
Jo Cox, CEO at Islands Energy Group, said: “I’m pleased to say that Isle of Man Energy is decreasing the price of the gas we supply to our customers.
“We have provided our accounts to CURA who are happy for us to proceed with a drop in our tariffs. As the second price decrease this year, this is excellent news for our customers in the Isle of Man and will hopefully help households who have struggled with the cost-of-living crisis in recent years.”
The new tariff’s will be published on Isle of Man Energy website from July 1.
New gas tariffs
For customers who want to provide a meter reading, this can be done online.
For customers that are struggling with debt Isle of Man Energy urges them to get touch to discuss.
It says it can offer payment plans, where customers can spread the cost of their bills.
Jo added: “Vulnerable customers can register on our Priority Care scheme, and we will assist them with safety checks, prioritising call outs and energy-saving advice.”
CURA
Yesterday (June 18), Communications and Utilities Regulatory Authority (CURA) recommended a 2.8% reduction in gas tariffs.
CURA issued a notice that based on a mid-year review the gas tariffs should be brought down.
The regulator require two tariff reviews to be carried out per year, with new tariffs being subsequently introduced where required.
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