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:
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Island's first rapid EV charger being installed
Once operational, the site will retain its existing charger, increasing overall capacity to four charging bays
Mooir Vannin could be first of many
Dr Alex Allinson, who is retiring as Ramsey MHK at this year's general election, gave evidence to the final hearing by the independent panel.
'Significant investment or redevelopment' needed at Ramsey District Cottage Hospital
Manx Care is 'planning a sustainable long-term solution'
Braddan Commissioners open expressions of interest for TT camping at Roundhouse
Local authority wants to provide family friendly accommodation