Manx Gas has claimed it was stopped from 'hedging' gas by Manx Utilities as it was considered a credit risk.
That's according to Jo Cox - the Chief Executive of the Island's Energy Group - who appeared in front of a Tynwald committee yesterday.
'Hedging' is a tool some fuel companies use to lock-in energy and reduce their exposure to volatile and potentially rising costs.
Mrs Cox described Manx Gas’ relationship with Manx Utilities - saying the two companies 'engage regularly' and their dialogue is 'open'.
However, she said when Manx Gas tried to hedge they were perceived as a credit risk, and were therefore declined:
3FM has contacted Manx Utilities for comment.
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