The government here has capped electricity at a significantly lower rate than the UK.

Following intervention by the Manx government on August 24, electricity prices in the island have been capped at 22 pence per unit until Spring (though with the warning that prices will have to increase in April).

This leads to an average annual cost of around £840.

By contrast, the UK has recently capped electricity at a much higher rate, of 52p per unit until December 31.

Between April and September 30, it has been capped at 28p per unit in the UK.

Overall, under the UK’s newly announced energy price cap, £3,549 will be the annual energy bill for a typical household in the UK from October 1.

By comparison, with average energy use the overall annual cost for Manx households (using gas) should now be around £2,840.

Electricity accounts for £840 of this, and £2,000 based on an the average Manx household’s gas usage.

However, for the price of gas itself, from September 1, Manx Gas will set its prices at 22.2p per unit, which is higher than the UK.

In the UK Ofgem will be capping the price of gas at a lower rate of 15p per unit from October 1.

The government’s Communications and Utilities Regulatory Authority said that this rise ‘is solely due to the increased cost of gas on the commodity markets, no other costs have been adjusted, nor will Manx Gas make a greater return due to the increase’.

When Manx Utilities warned that it would have needed to raise tariffs by 70-90% this autumn, up to 37p per unit, the government provided a £26m loan to the company.

The government is also providing a £100,000 community warmth fund to enable community groups to run events through the winter so that people have spaces to keep warm if they fear putting the heating on at home.