17th January 2024

Gas prices to go up by 12%

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Island Energy has announced that it will be increasing gas prices by 12% from the end of this month.

The announcement comes just three months after a gas outage left customers with no gas for weeks following an Island-wide fault on Saturday 7 October.

Customers are still waiting for an update on what compensation they will receive and when, following our calls for the gas provider to act responsibly and fairly to its customers in terms of compensation, and take on board the guidance and advice it would be operating under if it was regulated by the UK energy watchdog Ofgem.

The price rise comes into effect on 31 January and will mean that the average household bill will see an increase of approximately £13.80 per month.

Announcing the rise, Island Energy said: “The price rise is due to several factors. Inflationary pressures on operating and importation costs, high interest rates impacting on capital investment programme and continued volatility in wholesale market means that we need to implement a price increase.

“The last increase in Jersey and Guernsey was November 2022.  A review of these prices will take place in six months' time with a view that if market conditions are favourable prices may change.”

They added: “We know even the smallest increases can sometimes be exceedingly difficult for customers and we want to be as supportive as we can during this time, our customer services teams are here to help and can be reached on 01534 755500.”