Manx Gas prices in Isle of Man to increase by 2.9%

Manx Gas is to raise the price of gas by 2.9% next month, it has confirmed.

The increased tariff will cost the average domestic customer with gas central heating about 6 pence a day from 12 September.

The company also announced a 3% increase (0.48 pence per day) increase in their standing charge.

The total impact of the tariff increases on the average customer will be an additional £23.83 per year.

A Manx Gas spokesman said the business has "financially underperformed against the average of the acceptable returns range established in the March 2008 investigation into gas prices".

"This underperformance has been due to below average gas consumption as direct result of warmer than average weather patterns that have been experienced in the Isle of Man," he added.

The Isle of Man Office of Fair Trading has been informed about the price rises.