Gas prices for Isle of Man Energy customers will remain unchanged despite continuing volatility in international energy markets, the company has announced.

The utility said there would be no increase for households or businesses at this time, despite recent global developments putting pressure on wholesale gas prices.

Isle of Man Energy said its hedging strategy, which involves buying gas in advance, had helped shield customers from short-term market fluctuations.

Chief executive Graeme Millar said: 'We know how important price certainty is for our customers and we're pleased to confirm there will be no increase to gas prices at this time.

'Our hedging strategy has enabled us to manage market volatility and supports our commitment to keeping gas reliable, competitive and affordable for the Island.'

The announcement follows comments made by the company in May, when it said it had secured a significant proportion of its wholesale gas costs in advance to reduce its exposure to fluctuations in global energy markets.

At the time, Isle of Man Energy said the strategy had fixed the majority of its wholesale gas costs through to the end of 2026, helping to limit the impact on customer bills while maintaining security of supply.

The company had indicated that any increase following the Communications and Utilities Regulatory Authority's June tariff review was expected to be modest and would depend on wholesale costs and regulatory approval.

It also said support was available for customers struggling with energy bills, including flexible payment plans, direct debit options, referrals to third-party support organisations and free home gas assessments aimed at improving efficiency and reducing usage.

Customers concerned about paying their gas bills are again being encouraged to contact Isle of Man Energy for advice and support.