Alderney keeps electricity costs below price cap
A price cap of 50p per unit for electricity was set in 2008
At a glance
Alderney Electricity Ltd will keep prices below 50p price cap
This is despite the fact that the cost of fuel has "gone up considerably"
Electricity fuel costis relief in place for customers until August 2022
- Published
The price of electricity in Alderney remains below the 50p price cap, utility bosses have confirmed.
Alderney Electricity Ltd (AEL) said although the cost of fuel had increased, it would keep the price of a unit of electricity below the 50p per unit price cap for islanders.
AEL raised the price of fuel and electricity in May 2022, but introduced an electricity fuel cost relief for customers for three months from 1 May.
Managing director James Lancaster said its latest shipment had "risen significantly".
He said: “As anticipated, the cost of fuel received in the latest shipment has risen significantly as a result of recent world events and the volatility of the global fuels market.
"The fuel cost component is now 24.46p, which would have raised the price of a unit of electricity on the A tariff above the 50p price cap.
"As AEL has brought in a subsidy of 4.35p per unit to be applied across all tariffs, this will bring electricity prices back in line with the cap."
Bills due from the end of May 2022 would receive subsidies, the company said.
The price cap of 50p per unit for electricity was set in 2008