Latest news with #StatesTradingSupervisoryBoard
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
10-04-2025
- Business
- BBC News
Guernsey taxpayers 'not expected' to fund Aurigny's 2024 losses
Guernsey taxpayers have been reassured it is unlikely they will have to foot the bill for the losses Aurigny incurred in level of loss last year has not been released publicly but some politicians suggested in the States Assembly that it could run to between £6m and £ company, States-owned since 2003, was recapitalised by the island's government in 2015 and 2021. It made profit in 2022 and Peter Roffey, President of the States Trading Supervisory Board, said: "We do not expect to be approaching the assembly for any further capital injection as a result of any losses that were made last year." He said: "We expect Aurigny to be able to trade their way out of that and so the last injection of money from the tax payer remains at 2021."Facing questions in the States meeting, Roffey said the issues faced by Aurigny were not due to the company selling its Embraer jet in 2024 and things may have been worse if that had not been the total of the losses, he said: "I have not seen any actuarial figure yet... but I know it will run into several million pounds."
