Jersey review finds electricity prices 'are fair'
Electricity prices in Jersey are fair, a review by a competition watchdog has found.
The Channel Islands Competition and Regulatory Authorities (CICRA) compared bills in Jersey to other islands after concerns from residents.
The regulator found that households on a standard tariff could expect to pay about £970 per year.
It said such tariffs compared favourably with other islands such as Guernsey, the Isle of Man and Malta .
Chris Ambler, chief executive of Jersey Electricity, said the review endorsed their view that their prices were competitive.Supply failed
Electricity prices will rise 9.5% from 1 January which would work out at an extra £1.50 per week on average, Mr Ambler said.
The report found the average Jersey home uses almost double the amount of electricity as the average household in the UK.
CICRA chief executive, Andrew Riseley, said that meant the impact of any changes to the cost of a unit was much greater in Jersey.
He said the prices in Jersey were "broadly representing fair value".
One of Jersey's two power supply cables from France, Normandie 1, failed in June, after which engineers said it was beyond repair.
Since then, Jersey Electricity has had to buy oil to generate electricity at La Collette Power Station.
"All other things being equal, CICRA expects that JEC's most recent tariff increase, announced in November and taking effect on 1 January 2013, should be reversed once the new cable is connected and Jersey reverts to importing 90+% of its power," he said.