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When will States have courage to act on prices?
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From Deputy Geoff Southern.
FIRST it was petroleum prices, now it is the cost of heating oil. In both cases the Channel Island Competition Regulatory Authority (CICRA) announces that it cannot explain why price differences between the UK and Jersey are increasing (JEP, 3 February).
Now the Economic Development Minister is minded to give the CICRA permission to … wait for it … monitor the industry and publish prices on a monthly basis. Will this bring prices tumbling down? When customers know how much the Jersey premium is, will they be able to shop around for the best price? The answer to both questions is no.
Neither the minister nor the CICRA is willing or able to control prices. Both argued recently in the States against my attempt to get an investigation into mechanisms for price control. In the meantime the Jersey consumer watches helplessly as prices spiral ever upward. This government is happy to screw down wages; when will it have the courage to act on prices?
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