The Treasury Minister says the latest electricity price rises could be very damaging to the Island's financial stability.
Allan Bell (pictured) says the last energy crisis in the seventies played havoc with the world economy and inflation rocketed.
It comes after the Manx Electricity Authority announced a 14.5% increase in September and Manx Gas warned rises are likely this winter, in the face of spiralling gas and oil prices globally.
Mr Bell says the situation needs to monitored carefully so the damage doesn't occur again:
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