Manx Gas to drop tariff prices in September

Manx Gas has announced it's reducing tariffs by 3.6 per cent - a move it says should save customers an extra £20 a year.

The company says the reduction, which will take effect in September, is a result of lower priced natural gas purchases and higher than forecast gas outputs in the first half of the year. 

The price drop follows formal consultation with the Office of Fair Trading - the company claims it's now reduced prices by 10.6 per cent in total over the last 12 months. 

It says the reductions along with the Regulatory Agreement - which reduces the price of each unit of gas purchased - are 'hard evidence' that the agreement is 'working for consumers'. 

Manx Gas claims the cuts will represent a further reduction of £20 per year for the average central heating customer.