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Gas price rises were planned ahead

OFT comments on price hike

Manx Gas tariff hikes had been in the offing for a few weeks, according to the OFT.

It was announced yesterday there would be a 3.5% rise whilst the standing charge would rise by 2.4% - both coming into effect on June 1.

The regulatory agreement in place means any profits the firm makes above 9.9% have to be returned to the customer.

OFT Chairman is Martyn Perkins

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