Manx Utilities has announced a below-inflation rise of 1.5% in electricity charges.

But the energy company says water and waste water charges will rise with inflation which stands at 2.9%. The new charges will be in place from April 1.

This electricity uplift is below the 2.9% CPI rate that would normally apply under the five‑year Pricing Strategy approved by Tynwald.

Manx Utilities says the move reflects the board’s decision to limit the impact on energy customers. It says it recognises that energy costs in recent years have placed real pressure on households and businesses.

The recent global energy crisis saw fuel prices surge. Manx Utilities says it took significant action to shield customers from sudden bill shocks.

As most of the island’s electricity is generated using natural gas, wholesale energy prices and geopolitical uncertainties continue to influence the cost of supplying power.

It is unclear at this stage what impact the latest war in the Middle East will have on energy prices. However, to manage risk, Manx Utilities purchases a significant proportion of natural gas in advance to helps protect customers from short‑term price spikes. Approximately 75% of natural‑gas requirements for 2026-27 have already been secured.

Chair of Manx Utilities, John Wannenburgh MHK said: ‘Through careful financial control and disciplined management, the Board has been able to limit this year’s electricity tariff update from the CPI‑linked 2.9% to a more manageable 1.5%.

‘We will continue to review tariffs responsibly, always mindful that we operate as a community utility serving households and businesses across the island.’

Under the latest charges, a typical domestic customer using 2,700 kWh per year will pay £937 per year - an increase of £14 from £923.

Anyone struggling with their bills can contact Manx Utilities on 687675, freephone 0808 1624 115 or by email: [email protected]