MANX UTILITIES’ TARIFFS EXPECTED TO RISE IN LINE WITH INFLATION IN 2024
Following the [December 2023] sitting of Tynwald, Manx Utilities has confirmed an increase of the Island’s electricity, water and waste-water charges.
The standard domestic rate tariff will increase from 30.0 to 31.7 pence per unit on 1 April 2024.
The price of electricity in the Isle of Man will still be comparable to those in the United Kingdom, despite Manx Utilities maintaining lower electricity prices than those in the United Kingdom during the energy crisis.
During this time, Manx Utilities shielded customers from this market price volatility through a combination of forward purchasing of gas, which has reduced customer bills by £40 million, absorbing price rises by using reserves and cost control measures.
The wholesale cost of gas has come down from its record highs, costs remain more than double the level before the energy crisis began in 2021. This also impacts upon the cost of providing water and waste water services to customers due to the consumption of electricity to operate treatment works and pumping stations.
Chair of Manx Utilities, John Wannenburgh MHK, said: “Manx Utilities’ Board have 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.”
Customers who are concerned with their ability to pay for their electricity can contact Manx Utilities’ customer care team on accounts@manxutilities.im, calling 687675 or using the Freephone telephone number 0808 1624 115. For contact in person, the customer care team can also be accessed via Manx Utilities’ Headquarters, in the Isle of Man Business Park.
Further information about additional support available for households can be found at https://costoflivingsupport.gov.im/