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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