Price of gas to rise by 8% this month

Islands Energy Group confirmed the increase yesterday, stating this would work out as an increase of £8.30 per household per month, on average.

The group’s CEO, Jo Cox, said the company was aware that many households were facing rising prices.

‘We have kept our tariffs the same for over a year, however inflationary pressures on operating and importation costs, high interest rates impacting on our capital investment programme, and the continued volatility in the wholesale gas market means we have had to take the difficult decision to make this increase,’ she said.

‘We’re confident that our prices truly reflect the cost of gas we supply to our customers.’

In October 2021, gas prices rose by 16.9%, which led to the States running a support scheme for poorest islanders caught up by the increase. This followed a 4.7% rise in October 2020.

‘We are working closely with both the Government of Jersey and the States of Guernsey to ensure they are fully up to date on the situation and that they are able to offer support where they can,’ said Ms Cox.

‘We provide a priority customer care scheme that offers support to vulnerable customers, “energy reviews” for customers to see where they can save energy, and a host of smart technology that can help customers manage their consumption and reduce costs. If any customers are struggling with their bills, we would urge them to get in touch with us.’

Cylinder gas customers will also go up by 8% on 31st January.

• IEG prices in Jersey are going up 12% at the same time. Inflation is currently running higher in Jersey.