Theres to be a massive rise in electricity prices for domestic and business users.

From the beginning of September, electricity prices are to rise by 14.5% .
In justification, the Manx Electricity Authority says gas and oil prices have gone up 26% in the last year.

In a statement today, MEA Chairman Eddie Teare MHK says "Despite facing huge increases we have managed to keep our prices fixed since last September and at the same time operate well within budget and without interruption in supply. But the costs of these raw materials and their anticipated costs over the coming months are such that we have no option but to raise charges from this September to ensure that electricity remains available on demand to our customers within our operational budgets.”