Price of electricity in Sark capped at 54p per unit

The cost of electricity in Sark has been capped after a consultation with islanders.

The island's Electricity Price Control Commissioner has set the new price at 54p per unit from 1 January 2020.

Sark Electricity Ltd. have been charging 85p per unit making it the most expensive electricity in the world, although they ruled against a price increase earlier this month.

The commissioner, Dr Anthony White, says the current rate is neither fair nor reasonable. He had originally been trying to set the price at 53p per unit.

Sark Electricity Limited has accused the Commissioner of bias, collusion and of trying to bankrupt the company.

The company claims that the Commissioner's basis for deriving a fair price for electricity was "flawed and devoid of any economic reality".

After careful consideration of all their points, the Commissioner has rejected their arguments as being "without merit".

The company has been locked in a stand-off with islanders over the cost of electricity, with 98 islanders signing a letter to say they refuse to pay 'excessive' charges put forward by the company.