The Office of Fair Trading says Manx Gas has voluntarily agreed to co-operate with them by providing information used to determine its tariffs.

Yesterday, the company announced it was putting up all natural gas tariffs by 0.54p per unit, a rise of 8.2%.

The cost of LPG is rising 6.4% from the 10th of May.

The OFT has been made aware of the costs which Manx Gas believes justifies the new tariffs and says it is continuing to monitor and question suppliers following the publication of their recent report "Further investigation into gas prices in the Isle of Man" published in February 2008.

OFT Chairman David Quirk MHK says they will continue to look carefully at local energy markets and ensure suppliers are not enjoying excessive profitability at the expense of Manx consumers.