OFT continue to monitor Manx Gas price hikes

The Office of Fair Trading has offered a comment with regards to yesterdays announced price hike from Manx Gas.

The company yesterday revealed that natural gas tarrifs are to increase by £54 a year, with LPG shooting up by £64.

Manx Gas have cited the ever increasing prices for wholesale energy for the essential price increase.

The OFT say they continually monitor and question the suppliers on an ongoing basis.

They have said Manx Gas will be supplying information which will show the reasoning behind yesterday price boost.

Chairman of the OFT, David Quirk, has said they will continue to look at the local energy markets to ensure the suppliers are not enjoying excessive profitability at the expense of Manx consumers.