From 1 December, the company’s mains gas, mini bulk tank and cylinder tariffs will rise by 1p per kilowatt hour for all domestic and commercial customers, about 5% on the standard domestic central heating tariff.
Guernsey Energy said the increase reflected sustained rises in wholesale gas and liquefied petroleum gas costs, along with the cost of transporting and handling fuel imported into the island.
‘We recognise that any price increase is unwelcome, particularly during winter,’ said Guernsey Energy chief executive Graeme Millar.
‘Buying a proportion of our gas in advance helps us reduce the impact of short-term market volatility, but it cannot fully protect customers from sustained increases in the cost of fuel and bringing it to Guernsey.’
Global supply pressures, competition for cargoes and disruption to Middle Eastern exports and shipping routes have all pushed up costs. LPG prices have also been hit by seasonal and petrochemical demand, changing European supply flows and higher freight costs.
Mr Millar said the company would continue to monitor wholesale markets and keep tariffs under review.
Customers who are worried about paying their bills are being urged to contact Guernsey Energy’s customer team as early as possible to discuss the support available.
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