New UK Prime Minister Liz Truss has just announced a fresh energy cap which will put energy bills for average UK households at £2,500 a year from October, which is lower than the new cap for Manx households.

Under energy caps announced here on August 26, with average energy use the overall annual cost for Manx households (using gas) should now be around £2,840.

When comparing the pre-Truss UK caps to the current Manx Government ones, Isle of Man households had been better off.

The government here had in August capped electricity at a significantly lower rate than the UK, at 22 pence per unit until Spring.

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

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

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

This UK’s new £2,500 cap will be achieved through a new Energy Price Guarantee which limits the price suppliers can charge customers for units of gas.

The Manx government was approached for comment.