Manx Gas have announced that it is reducing its tariffs by 3.5 per cent. 

This reduction will take effect from the 1st April 2016.

Managing director Tony Nicholls commented: “We are lowering our prices by 3.5 per cent. This is in addition to the 3.5 per cent reduction made back in January 2016. It is good news for our customers and is the result of lower priced gas purchases and continued operational efficiencies.”

In addition to the 3.5 per cent reduction this April, customers will also benefit from a Regulatory Adjustment. This will reduce the price of every unit of gas purchased for the next 12 months by 0.0891p per unit.

Since the introduction of the regulatory agreement in 2015, the level of return generated is capped at 9.99 per cent. Any excess profits above this level must be returned to the customer base in the form of a Regulatory Adjustment, (a full explanation will be included in customers next bill).

Mr Nicholls said the 3.5 per cent reduction and the Regulatory Adjustment will represent a combined reduction of ?29 per year for the average central heating customer who uses approximately 10,000 kWh.

Photo - Tony Nicholls, managing director Manx Gas.