Latest news with #GuernseyElectricity
BBC News
29-05-2025
- Business
- BBC News
Guernsey Electric price increases will 'overhwhelm poorest'
Guernsey's electricity supplier is being urged by a woman who is unable to work for health reasons to rethink its decision to raise Guernsey Electricity Limited (GEL) announced last week its standing tariff will rise 8% from £68.25 to £86.75 per quarter from July. The States Trading Supervisory Board (STSB) said the increases are needed because it is not "commercially sustainable" for GEL to keep borrowing to cover infrastructure costs. Islander Clare Martin receives income support due to being unable to work following cancer treatment and said the hike will be "overwhelming" for islanders on low incomes. It comes after GEL rates increased by 13% in 2023 and by 10% in Martin developed a rare blood cancer in 2023, which meant she had to stop work and undergo months of intensive chemotherapy treatment in Southampton. She said when she first heard electricity prices were set to increase she felt "really overwhelmed and scared". "I am already in debt with the electric because of being in hospital and having no family to help with that - its really overwhelming," she said. She now fears being unable to afford day-to-day living costs, and says she is left with £40 a month after paying for her electricity. She said: "There are a lot of people out there that are in a similar situation unable to work."It's not only the physical side of things but the mental aspect as well, because you worry - where will I get the extra money from?"GEL CEO Alan Bates said the increases are needed to ensure the company remains operational. "It's not about creating anything new for the future, this is just really keeping us where we are today so we don't see more power cuts or faults in the road," he told BBC Radio Guernsey.
BBC News
27-05-2025
- Business
- BBC News
Guernsey Electricity CEO says price rises 'needed for reliability'
An above-inflation price rise will allow Guernsey Electricity Ltd (GEL) to maintain the reliability and security of the island's electricity supply, according to the company's week GEL announced an 8% price rise, with the standing charge set to go from £68.25 to £ to BBC Radio Guernsey, CEO Alan Bates said: "It's not about creating anything new for the future, this is just really keeping us where we are today so we don't see more power cuts or faults in the road."Mr Bates said more money would be needed for the company's future plans, adding: "Investment today is very much about standing still." The company had originally asked the States Trading Supervisory Board, which oversees GEL, to raise prices by 9.5%.Mr Bates said the lower price increase would "slow down" some of the companies planned activity. How much are prices going up? The 8% increase is being spread among the standing charge and the price per unit of electricity, the company charge - rising from £68.25 to £86.75 per quarterStandard tariff- rising from 23.89p to 24.77p per unitSuper Economy tariff (peak rate) - rising from 25.31p to 26.45p per unitSuper Economy tariff (off peak) - rising from 11.40p to 12.26p per unitGEL said a typical domestic customer with electric heating would pay about £57 more a those without electric heating will pay about £35 more a quarter quarter.
BBC News
23-05-2025
- Business
- BBC News
Cost of electricity in Guernsey rises as fixed-price deals end
The price of electricity in Guernsey is to rise from 1 States' Trading Supervisory Board (STSB) granted Guernsey Electricity (GEL) an increase of 8% to be split between the charge per unit of electricity and the fixed standing STSB has also approved a 2.5% increase in quarterly standing charges from 12.5% to 15%.The decision comes after Guernsey Electricity (GEL) applied to the government for an increase of 9.5% because its long-term fixed price agreements for the import of electricity are due to end. The STSB said the quarterly standing charges for households would rise from £68.25 to £86.75, the equivalent of about 95p per said this rebalancing would protect customers who were unable to install their own renewable electricity generation. It said customers generating renewable electricity paid less in unit charges as the amount they bought decreased, but they remained connected to the mains network to supplement their generation president deputy Peter Roffey said while the bills had been kept "artificially low" GEL had been unable to adequately invest in the network. He said GEL had spent more than £30m in maintaining and upgrading the local network but much of this had been financed through borrowing. The STSB said it was "not commercially sustainable" for GEL to continue borrowing to maintain its current electricity firm said it planned to invest about £12m in 2025 and £10m in 2026 as well as a contribution of around £10m towards the replacement of the Normandie 2 cable between France and Jersey between now and board said GEL would be expected to make efficiency savings of about £1.8m by the end of 2027 to reduce the need for future tariff benefit would be passed on to customers, the board added.
