A planned cut in gas prices has been delayed to allow Isle of Man Energy to check its billing system has been updated.

The 16 per cent cut was due to come in on January 1 but has now been put off until January 7.

Isle of Man Energy had requested the short delay to allow time for it to test the changes being made within its billing system.

Regulator the Communications and Utilities Regulatory Authority granted the request, saying this was in the interests of customers and the utility company.

The 16% cut to domestic tariffs just before Christmas. It followed the latest review by CURA.

Isle of Man Energy’s tariffs fell from a record high of 22.21p per unit to 16.67p per unit in November last year following a regulator’s review after a big drop in wholesale gas prices. Tariffs were cut again to 13.98p from March 1,

The next tariff review is scheduled to take place in June 2024, with any update to the tariffs to be implemented in July.