Manx Gas to be regulated for first time ever

Wednesday, 6 May 2015 00:00

For the first time in history the Island's gas supply market is being regulated.

The new voluntary agreement will ensure that Manx Gas can't exceed a certain level of annual profit.

The agreement is between the supplier and the Office of Fair Trading, Treasury and the Department of Economic Development.

That's OFT chief executive Mike Ball - he says it will result in a better deal for customers although that doesn't necessarily mean a reduction in prices:

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