Guernsey's electricity bills set to rise by 10% this summer

People in Guernsey will pay 10% more for their electricity from July 2024. The increase will be split between the charge per unit and the fixed standing charge - meaning higher bills will depend on how much energy is used. Guernsey Electricity say the hike will help meet rising costs and fund investments in the network.

Before applying to the increase to islander's bills, the company had to have it approved by The States' Trading Supervisory Board (STSB).

President of the STSB, Deputy Peter Roffey, said the rise follows years of underfunding: “We have fortunately avoided the crippling increases in energy bills that have been seen elsewhere.

"However we are still playing catch up after years when there was no increase in base tariffs under the previous regulatory regime. It kept bills artificially low, and starved Guernsey Electricity of the funds to adequately invest in the network.

"Customers now are having to pay the price of that, so we do not repeat that mistake and burden future consumers.

Guernsey Electricity originally applied for an increase of 12%, however this was reduced by the States.

Deputy Roffey continued: “The STSB has therefore acted responsibly in approving an increase, although not to the level that Guernsey Electricity had requested.

"We have also set an efficiency target, requiring the company to continue to focus on reducing costs and passing those savings on to customers.”

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