JERSEY ELECTRICITY
TARIFF ANNOUNCEMENT FOR
JERSEY ELECTRICITY CUSTOMERS
Due to strongly rising global energy costs and having held its electricity tariffs unchanged over the previous two years, the JEC will be increasing tariffs by an average of 24% effective 1 January, 2009. Unit charges will increase by 25% and standing order and other fixed charges will increase by 5%.
Whilst we have cushioned our customers from high and volatile wholesale markets and have absorbed additional costs to the extent possible over the last two years, the importation costs of power have risen by over 70%. The cost increase has been driven by a 55% increase in Euro denominated wholesale electricity costs and a 15% deterioration in the Pound/ Euro exchange rate.
Since the time of the last electricity price rise in January 2007, the local prices for heating oil and gas have increased by approximately 60% and 35% respectively. In the UK, gas and electricity retail prices have increased by 48% and 27% in 2008. For the majority of customers in Jersey, electricity prices are lower than the European average, Guernsey, Isle of Man and the UK.
Bills issued after 1 January 2009 will be calculated pro-rata to take account of consumption prior to the effective date of this increase.
Tariff data is available on request from the Company and will also be published on our website (www.jec.co.uk).
15th October 2008