Gas prices to rise by just under 44%

Thursday 4th August 2022 12:13 pm
Jo Cox, chief executive of Islands Energy Group
(Islands Energy Group )

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Gas prices in the island are set to rise by 43.9% in September, with the all island tariff increasing by 6.8p per unit.

This follows ‘continued disruption in the global energy market’, according to Manx Gas.

The rise will take effect on September 1.

Gas prices were last increased in April 2022, with the latest increase representing an increase of £677 per year for the average customer.

Chief executive of Islands Energy Group Jo Cox said: ‘Extreme volatility in the global energy market saw commodity costs spiral to unprecedented levels last winter and recent supply reduction and disruption by Russia have pushed them higher again.

‘We understand that tariff increases are incredibly difficult for our customers to manage but, given the increase in the price of energy on wholesale markets, they unfortunately cannot be avoided.’

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