Electricity up 8.5% – GE wanted 26%
Friday 26th February 2010, 2:29PM GMT.
GUERNSEY ELECTRICITY wanted to increase prices by more than a quarter – less than a year after bills went up by 17%.
The Office of Utility Regulation has restricted the rise to 8.5%.
Increases will affect all tariffs from 1 April.
Director-general of the OUR John Curran (pictured) said Guernsey Electricity requested a price increase in October last year to recover about £10.5m. in additional costs incurred over 2008 and 2009 in meeting electricity demand.
In January 2010, the company had submitted revised information seeking to recover over £18m. in extra costs which would have amounted to a 26% increase.
‘The price control included a review mechanism as it was recognised that certain costs facing Guernsey Electricity such as oil and electricity import costs might change,’ said Mr Curran.
Guernsey Electricity and the regulators have been at loggerheads for the past 12 months on what the increase should be.
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These energy increases are truly getting out of control! That’s why all these energy deregulation companies are raking it in!!!
Soon businesses and home owners won’t be able to keep their lights on!
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Greed,greed and more greed!!!!!
Why am I not surprised?
Do these people live in the real world?
I don’t think so!!!!
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I think electricity is priced very well. Compared to oil & gas it is extremely good value for money.
I believe it is one of the few things locally we have had an excellent deal on in many years.
Many would do well to compare what Guernsey consumers pay compared to Sark. Then be grateful.
Maybe the whingers should have a go at calculating the cost of producing their own. All would quickly realise they’ve had it on the cheap for a long time.
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8.5% in a recession! Perhaps OUR could provide figures on wether the full increase is directly on electrity generation or supply costs, how much is for salaries/pensions which should be at zero in this current climate.
Also when will he turn his attention to local Gas prices?
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