The Jersey Competition Regulatory Authority has published a Final Decision on the regulation of Ports of Jersey’s pricing for a five-year period starting 1 January 2025.
The Authority’s pricing decision balances consumer interests with the need for investment in critical ports infrastructure and the new price control will limit annual price increases to a maximum of 1.8% above Jersey RPI.
The new price control facilitates the continued delivery of efficient Port operations and enables Ports of Jersey to undertake transformational capital investments in Jersey’s aviation and maritime gateways. These investments are designed to significantly improve ports facilities, services and long-term connectivity.
The price control has been set following public consultation, and extensive stakeholder engagement. It enables Ports of Jersey to meet and self-fund capital requirements and incentivises Ports to progress its current plans, which remain subject to the risks and uncertainties typical of large infrastructure projects. These and other potential challenges have been considered by the Authority in its Final Decision.
Tim Ringsdore, Chief Executive Officer at the Authority said: “We have taken a considered approach to this review and operated within the Government’s Ports Policy Framework. The Authority has full confidence that Ports of Jersey can achieve its plans through the new price control. Our Decision balances capital investment with the need to protect the interests of all current and future Ports users. We look forward to working with Ports of Jersey as it implements its plans for the benefit of Jersey.”
