Public warned of electricity price hike

Islanders should expect an increase in electricity prices.

That's the message from Manx Utilities Chairman Rob Callister who spoke in Tynwald this morning.

Speaking in today's Budget debate Mr Callister stated increases in the wholesale cost of gas had put 'significant pressures' on the authority.

He said Manx Utilities had worked to keep costs down - spending the equivalent of £180 per household and business on Island to shield residents from spiraling prices.

However, he said the increase comes as Europe and the UK are 'engulfed' in an energy crisis around the wholesale price of natural gas - leading to an increase of unprecedented levels over the past year.

He said Manx Utilities will continue to work to minimise the cost to customers, but can't deny there will be a price hike: