Chief Pleas was unable to consider the £1.5M from the States of Guernsey at its meeting last night (21 January), but a timeline for the purchase was laid out.
Sark's government, Chief Pleas, met yesterday for what is known as their Christmas Meeting.
But two big agenda items, the reform of taxation and the purchase of Sark Electricity were not on the agenda because some papers from third parties were, according to a senior civil servant, filed late.
Instead, a timeline was laid out for the purchase of Sark Electricity and its distribution network.
Both parties have agreed to appoint Begbies Traynor as valuers of the company's assets and Chief Pleas heard that this will be ratified by Sark's Seneschal Court in late February.
Following an upcoming by-election, it is hoped to get the £1.5M loan facility from Guernsey agreed at an extraordinary meeting later that month.
The move to buy Sark Electricity has been the subject of disagreement between its current owner and Chief Pleas stretching back many years.
In September 2025, an extra tariff was introduced to pay for the owner's legal bills, briefly making the unit price of electricity in Sark one of the most expensive in the western world.
After a ruling by the islands electricity price commissioner, the legal tariff was removed, and electricity prices dropped.
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