Cost of Buying in Fuel for Manx Gas Increased by 20% Over Past 12 Months
The Office of Fair-trading has said after further investigations they determine the increase in tariffs at Manx Gas to be reasonably justified.
Natural Gas is set to go up by 5.5% with a 7.6% rise in Liquid Petroleum Gas from October 8th, the Company said the price hikes were a necessity in light of a forecast upward trend in prices over the coming year.
Prices of buying in the fuel have shot up by 20% in the past year.
The OFT estimate that with the increases the average family will be spending an additional £61 a year on Natural Gas, and £115 on LPG.
In conclusion the OFT say the increases illustrate the growing need for effective regulation of our energy suppliers.