Watchdog To Review Electricity Supply

Thursday, 5 October 2023 11:28

The competition watchdog has announced the first review of Jersey's electricity supply in more than a decade.

The JCRA says its latest study will take a close look at whether the market is working well for consumers.

Chief Economist Paul Hetherington says electricity is an unavoidable expense, and a 'substantial portion of household income'

"We are very aware that, in the current economic climate, there is significant pressure on household budgets, and it is appropriate that we take a closer look at this market to consider if it is working well for consumers."

The authority last reviewed the market in 2012.

Terms of reference have been published:

In particular, the study will consider:

• the efficiency of electricity supply in Jersey, taking into account the resilience of supply;

• market characteristics, including consumer demand, market structure and market outcomes;

• comparative data and findings from the previous market study carried out by the Authority; and

• features of the electricity market, including investment in renewables and alternative generation, which potentially impact present and future competition.

A draft report will be published in March 2024, and the study is expected to be fully completed by next autumn.