Thousands of gas customers will get from a £58 rebate on their bills in the coming weeks after the Isle of Man Government adjusted loans with Manx Utilities, which then charges Manx Gas.

Announced late last year, the arrangement was established following a decision to reduce the amount Manx Gas pays Manx Utilities each year in relation to infrastructure payments.

A binding contractual agreement has now been signed between Manx Gas and Manx Utilities, requiring the £1.4m savings to be passed on to customers in full.

Rebates will be received by all domestic and business customers which have used more than zero units in the preceding 12 months, excluding Isle of Man Government.

In the autumn, the Isle of Man’s gas regulator agreed to a 27% rise in the price of gas. Just months later, Manx Gas wanted to increase it further, but it was denied that.