Manx Gas customers will be hit with a 3.5 per cent price rise from the end of next week.
Standing charges are due to go up by the same percentage, too.
It means the average bill will go up by around £27 a year.
The firm's commercial director, John Davies, says it can no longer absorb rising global energy costs:
Clip 1
Business case for horse trams to be put before Tynwald in July
But not every member was on board with the plans
Employment grievance 'upheld' against board of Peel Commissioners
Local authority says independent HR consultant was hired to investigate
2026 Parish Walk takes place today
Participants to set off from NSC at 8am
Armed Forces Day returns to Douglas
Parade, live entertainment and three air displays on the cards
Campaigner threatens legal action over Island's Assisted Dying Bill
Dr Graham McAll believes it to be in breach of the European Convention on Human Rights