Island's electricity prices to rise again 

Unit price to go up to 31.7 pence

Electricity prices on the Isle of Man will rise again next year.

Manx Utilities has confirmed the standard domestic rate tariff will increase from 30 pence per unit to 31.7 pence per unit.

It claims the price of electricity on the Island will still be comparable to the United Kingdom.

Chair John Wannenburgh said: "Manx Utilities' board has been very aware that increases in its tariffs and charges have put pressure on the finances of its customers and has worked hard to limit expected increases for 2024 to inflationary levels. 

"We will be undertaking a pricing strategy review during 2024 and hope that wholesale energy markets will continue to stabilise in the coming months and reduce the energy cost pressures on Manx Utilities and our customers.

"We would always recommend that customers who are concerned about their electricity bills get in touch with the customer care team who are best placed to offer advice. 

"Each enquiry is treated confidentially and the support provided is specific to each situation. 

"There are many steps that can and are taken to avoid the worries of a disconnection, so much so that the occurrence is extremely rare. 

"Manx Utilities ultimately wishes to ensure that their customers have access to their essential utility services as and when they need them."

Manx Utilities adds the wholesale cost of gas is impacting on the cost of providing water and waste water services to customers due to the consumption of electricity to operate treatment works and pumping stations.

The price rises will come into effect from 1 April 2024.