Manx Gas has announced that it is removing the full 0.485 pence per unit natural gas fuel cost adjustment with effect from 1 April.

Managing director Alan Bates said: "The fuel cost adjustment introduced last September was necessary because of volatility in the wholesale natural gas market.  Wholesale prices have now stabilised at a lower level.  More importantly, the forward prices through next winter look stable as well.

 

"Manx Gas continues to monitor current and future market trends and will buy fixed-price contracts whenever it is advantageous to our customers."

He added: "This removal of the fuel cost adjustment equates to an 8.2% reduction for our central heating customers.

"It applies to natural gas users in the Douglas, Onchan, Union Mills and Glen Vine areas.  We are currently looking at the LPG wholesale markets and will advise as soon as we can on when the 0.19 pence per unit fuel cost adjustment can be removed for LPG customers."