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Independent efficiency review finds Guernsey Electricity is performing well

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Friday 26 May 2023

An independent review of electricity charges across the British Isles has found that for customers on a standard tariff, bills in Guernsey last year were the second cheapest, and significantly lower than the UK.

For economy tariff customers, only Jersey Electricity, Manx Electricity, and one Northern Ireland supplier were cheaper than Guernsey Electricity in 2022. Local bills were only slightly higher than in the Isle of Man. 

The study was conducted by independent consultants Frontier Economics, which also carried out an efficiency review comparing Guernsey Electricity to Jersey and the Isle of Man's power utilities. That found the company was performing well compared to its island counterparts, and was classed as 'particularly efficient' in a number of measures.

The efficiency review compared the three utilities and the costs that they incur against various criteria. The analysis considered overall operating costs and total expenditure, which included capital investment. It also assessed the net operating costs, which excluded the cost of electricity import and generation, as those are subject to external factors outside each companies' control. 

To provide a like for like comparison, costs were adjusted to reflect the size of each company, using different measures. These were:-

Frontier Economics then carried out a 'composite' calculation, combining all three variables. Its conclusions were:-

Frontier Economics concluded:

"Guernsey Electricity's total bills tend to be lower than most other suppliers, and higher than Jersey Electricity's for both domestic and industrial customers.

"There are a number of differences between Guernsey Electricity and Jersey Electricity. These non-efficiency reasons can result in differences in tariffs. For example, Guernsey Electricity's smaller scale and less dense network, regional wage differences, transmission and distribution losses, and differences in security of supply." 

The STSB's full decision notice and the findings of the Tariff and Efficiency Benchmark Review can be found at www.gov.gg/GELtariffdecision.

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