Electricity prices will rise by around £60 per year from next March after Jersey Electricity announced a 2.5% tariff increase.
The rise, which sits below the September RPI figure of 2.8%, will add around £60 per year or just over £1 per week for a typical all-electric home using around 10,000 units of electricity a year.
Jersey Electricity chief executive Chris Ambler said: “We understand that any increase in household costs is unwelcome and we’ve worked hard to keep this increase as low as possible.
“Encouragingly, we’re starting to see signs of greater stability in international energy markets which has helped us keep this adjustment below inflation.
“We’ve also been able to hold off bringing this 2.5% increase into effect until March 2026 so customers can be assured it won’t affect their bills over the colder winter months when consumption is higher.”
Jersey’s electricity prices will remain amongst the lowest in Europe and the Channel Islands after the rise, he added.
Mr Ambler said: “As we deliver the most significant electricity infrastructure upgrades the island has seen in a generation, we have been able to maintain a below cost-of-living increase as a result of our solid pricing strategy and ongoing operational and capital efficiencies.
“We remain committed to delivering clean, secure and affordable electricity, while investing in the infrastructure our island needs for the future.
“We’re making good progress with our contractual negotiations. While there will be some structural changes to the new contract, we are confident that this new framework will continue to deliver competitively priced power and continued good outcomes for consumers.”