Jersey set to face 5% rise in gas prices ahead of winter

Gas prices in Jersey are to rise by 5% as the cost of living crisis continues.

It will mean bills for the average household will go up by approximately £4 or £5 per month.

Island Energy (formerly Jersey Gas) says the increase is down to volatility in international energy markets and the price and security of energy worldwide. The change for domestic customers comes into effect on Monday 7 November.

In September 2021, gas prices in Jersey increased by 4.5% as well as a market-linked increase of 15.2%.

Chief Executive Officer of Islands Energy Group, Jo Cox, said: "This is a difficult decision to take, particularly at the start of winter, but a price rise is necessary given the continued impact of the energy crisis on the price and security of energy worldwide.

"A 5% market-linked increase is reflective of continuing unprecedented high cost of natural gas and the knock-on effect that has on the supply of LPG, which is the type of gas supplied in Jersey. We have seen the market improving in recent weeks and hopefully this will feed through to the wider market.

"Our last increase, in September 2021, included a temporary measure which reflected high market prices and this is still in place," said Mrs Cox.

The price of wholesale gas has remained high for the last 12 months with Russia's invasion of Ukraine being one of the factors in prices rising.

Mrs Cox added: "A wide range of factors affect supply chains in a variety of ways, keeping the cost of many things that are crucial to the supply of gas very high.

"While 5% is a relatively small increase in the current global context, we understand that news of any increases for customers may cause concern. Island Energy runs a Priority Customer Care scheme that can offer payment plans, 'Comfort Checks' for customers at home, and further support if needed. Customers can sign up for this scheme through our website or they can call us on 755500," said Mrs Cox.

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