Tynwald has voted to introduce gas regulation.

Members voted unanimously to approve an amended motion that calls for regulation of tariffs.

The move came after government and Manx Gas failed to finalise an agreement approved in principle last year.

The Communications and Regulatory Utilities Authority has been asked to bring forward regulation.

This will cover the tariffs for the public supply of gas for all customers.

The motion also calls for ’rebalanced pricing of gas for all customers’.

A motion originally tabled by Douglas Central MHK Chris Thomas was amended by Middle MHK Bill Shimmins to include a deadline of April 30.

Tynwald voted in November to accept the heads of terms of a new voluntary gas deal.

Under the previous regulatory agreement signed by the government in 2015, Manx Gas was controversially guaranteed a 9.99% return.

Under the new terms, it would see its profits capped at just below 7% for accounts for domestic customers who would also receive a refund averaging at £93.

The Communications Commission - whose role has been telecoms and broadcasting - is taking on a new role as regulator of the gas market.

Royal Assent has been announced to the Gas Regulation (Amendment) Act 2021.

Manx Gas has previously said it was frustrated at the lack of progress in signing a new regulatory deal.

A Manx Gas spokesman told the Courier back in January: ’Despite the support of Tynwald for the new agreement in November, we are frustrated by the lack of progress in finalising the details.

’We have repeatedly tried to engage with the government.

’We received the draft contract from the government on December 4 and returned it with our comments on the 14th but have not received a response in over a month.’

Manx Gas had urged the government to agree the full contract, allowing our customers to benefit from the new lower prices for 2021 and refund for 2020.

Mr Thomas accused the government of ’messing up’ negotiations with Manx Gas over an agreement for voluntary regulation. He said Tynwald had been ’lured’ into voting for the proposed deal.