Latest news with #STSB
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.
BBC News
22-03-2025
- Business
- BBC News
Three States of Guernsey companies to be commercialised
Guernsey Water, Guernsey Ports and States Works are to be from the States' Trading Supervisory Board have now been agreed, meaning the businesses will remain wholly States-owned but with less political involvement in their day-to-day president of the STSB, Deputy Charles Parkinson, said there were benefits to the changes, as demonstrated by the incorporation of Guernsey Post and Guernsey the chamber, Deputy Parkinson said: "Incorporation has allowed those businesses to operate more commercially, with greater agility and a more customer-focused approach, and to make better use of all the assets at their disposal." Deputy Parkinson said that the incorporated businesses have also been able to support "the States' wider economic, social and environmental policy objectives".The arrangement has been in place for Guernsey Electricity and Guernsey Post for the past 20 to the States of Guernsey's latest budget report, external, unincorporated trading entities should raise sufficient revenues to fund all of their Water is due to be the first of the three businesses to be incorporated, with the target being the start of STSB has been directed to report back to the States by the end of next year with more detailed proposals.
BBC News
12-02-2025
- Business
- BBC News
Guernsey Airport spent more than £330k on overtime last year
Staff at Guernsey Airport did more than 7,850 hours of overtime last year because of late openings caused by plane delays, costing more than £330,000, the States' trading arm has the airport made 24% more from parking charges in 2024, after prices increased the previous October the States' Trading Supervisory Board (STSB), which oversees the island's airline Aurigny, information was revealed as part of a series of Rule 14 Questions raised by Deputy Simon Vermeulen which also showed the airline made a loss in 2024 because of "exceptional" costs such as wet leasing and repairs to its Embraer STSB said Aurigny's underlying financial performance remained "positive" and the company would have broken even if not for the unexpected costs. 'Historically good levels' A review commissioned by the airline last year found its management had made no "misjudgements" but a separate report said Aurigny's prices were 30% higher than comparative prices for Jersey and the Isle of Peter Roffey, STSB president, said he "[appreciated it would] be of no comfort" to passengers affected by disruptions but "Aurigny's punctuality rates [had] returned to their historically good levels".
