ELECTRICITY prices in Jersey will rise by 2.5% from 1 March, adding just over £1 a week to bills for a typical all-electric home.
Jersey Electricity said the increase would come after the coldest months, when households generally use the most power.
The utility company’s estimate is based on a household with electric heating using around 10,000 units a year.
The impact on individual bills will depend on how much electricity customers use and what type of meter they have.
Jersey Electricity said independent comparisons put its proposed tariff of 24.82p per kilowatt-hour about 17% below comparable UK household prices and around 3% below the EU average.
Chief executive Chris Ambler said the company had “worked hard to keep this rise below the Island’s current rate of inflation” of 3%.
He added: “We are acutely aware of the pressures many Islanders continue to face.
“Our responsibility is to manage the business prudently, find efficiencies wherever we can and keep prices as affordable as possible for customers, while making the long-term investments needed to ensure Jersey continues to benefit from a safe, reliable and future-ready electricity network.”
The company is spending £120 million on its Big Upgrade, the largest investment programme in its history, to help the Island’s electricity network cope with future demand.
Jersey Electricity buys most of the Island’s power from nuclear and hydroelectric sources in France, with local generation available as a back-up.
It said its recent partnership with French supplier EDF and its approach to managing price risk had helped shield customers from swings in international energy markets.
A new four-year supply deal with EDF will begin on 1 January 2028, giving the company more flexibility over when and how it buys electricity as demand changes.
Mr Ambler added: “The new EDF agreement gives us further confidence in the long-term security of Jersey’s electricity supply and greater flexibility in how we manage future energy requirements.
“As Jersey becomes increasingly reliant on electricity, making the best use of both the energy we purchase and the network that delivers it will become increasingly important.
“Together with the investment we are making in the Island’s infrastructure, this puts us in a strong position to manage that change while continuing to provide customers with a secure and competitively priced electricity supply.”
Customers worried about paying their electricity bills can contact the company’s customer care team for advice and support.
