Power price rise needed to keep the lights on
Tuesday 22nd March 2011, 1:00PM GMT.
GUERNSEY ELECTRICITY is not making enough money to pay for two capital projects that are essential to securing the long-term supply to the island, its managing director has warned.
Alan Bates (pictured) discussed his concerns about the current financial position of the States-owned utility after the regulator last week confirmed it would allow Guernsey Electricity to increase its prices by 6.5%.
He wanted islanders to understand why the price hike was needed if Guernsey Electricity is to ensure that the lights didn’t go out.
The major projects which need to be paid for are the replacement of one of its five generators at an estimated cost of £10m.
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Why do we need new generators if we are getting our power from France?…It cost us millions to pay for a cable connection but it seems we still have to generate our own????
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Peter – “Why do we need new generators if we are getting our power from France?”
Because IIRC the original deal was badly negotiated and after the initial contracted period expired (10 years?) it left the French free to charge us what they liked so went from being cheap electricity to expensive………..
Plus I believe that Guernsey Electricity is mandated by the States to provide us with the cheapest electricity at all times, so if that means puffing black smog out all over the island that’s what they have to do instead of buying it from our radioactive neighbour.
Neither is very appealing is it?
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