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Gas Prices to Fall in New Year
The next tariff review is scheduled to take place in June 2024
Gas prices will drop by 16% from January, the utilities regulator has announced.
Under the Gas (Tariff Fixing) (Parameters) Regulations 2022, the Communications and Utilities Regulatory Authority reviews prices at least twice a year.
As part of its role in the process, Isle of Man Energy proposed that, based on current parameters, domestic tariffs should reduce by c. 16%, with full tariff list due to be posted from January 1 2024.
CURA said: ‘The Authority sees no reason to intervene at this point but notes that it monitors the tariffs and the associated parameters on an ongoing basis.’
The next tariff review is scheduled to take place in June 2024.
As gas prices fall, the exact opposite is expected with electricity prices on the island, with Manx Utilities raising its pricing from 30p per unit to 31.7p per unit from April 1 2024.
