The price of gas in the Isle of Man could soon fall.
Isle of Man Energy (formerly Manx Gas) this morning issued a statement about the situation.
It says it monitors the cost of natural gas on a daily basis.
‘Given the commodity price of gas has fallen recently, a tariff review has been triggered and Isle of Man Energy is providing all the necessary financial information required by Communications and Utilities Regulatory Authority,’ the statement says.
Jo Cox, the chief executive of Islands Energy Group, the parent company of Isle of Man Energy, said: ‘After many months of extreme volatility and high energy prices, we are pleased that the forward price of gas has reduced in the past month.
‘As always, we are fully engaged with CURA and we will work together on a review of tariffs which we expect will trigger a price reduction.
‘This is great news for customers, and we hope this will ease some of the financial pressures many have experienced during the cost of living crisis.’
•Isle of Man Energy has endured a bruising week after it was heavily criticised in Tynwald for blunders on bills.