No need for caps if we price fairly, says Manx Gas

The energy company has promised new ways for customers to manage gas use at home

Manx Gas does not need to have its prices capped if they are set "fairly and transparently", the company's boss has said.

Proposals to limit the firm's profits are being consulted on by the Communications and Utilities Regulatory Authority.

They include fixing bills for customers and a new pricing model based on supply.

But Manx Gas is concerned about a "lack of agility" amid changing costs.

'Not good enough'

"Commodity prices on gas are flying through the roof, which can make it hard to track the cost of our service", said Jo Cox, the newly-appointed chief executive of parent company Islands Energy Group.

"Our big fear is a lack of agility. We need to work with the regulator. If we can benefit from lower commodity prices, so should customers."

Protests were held over tariffs set by Manx Gas in a voluntary agreement struck with the Manx government in 2015.

It prompted talks on a new deal, which stalled earlier this year before Tynwald voted to impose regulation on the gas market.

As part of a push to improve customer relations, Manx Gas has promised to deliver a new digital billing system and a home energy management service in the next six months.

Ms Cox said: "We recognise we have not been good enough, and we're now focusing on making it easier and better to do business with us".

The consultation has been extended until 30 September.