Guernsey Electricity has pledged to maintain its focus on affordability for customers as it plans to further minimise its environmental impact and create a greater level of security of electricity supply for the island.
The recently published 2017/18 annual report and accounts highlights how the company has embedded business transformational changes and begun work to meet the current and future demands of the rapidly changing Island energy market. It also indicates how the future plans for a direct subsea cable to France will significantly and positively impact the island’s security of supply.
The company has restructured to be more customer focussed and to ensure its offerings balance affordability and fairness. This includes the recent launch of Guernsey Electricity’s tariff consultation to ensure fairness for all customers, as the current tariff structure does not reflect the changing energy market environment.
Chief Executive of Guernsey Electricity, Alan Bates, said: “The energy market is rapidly changing, with the lines between energy producers and energy consumers becoming less clear. Commentary on this energy transition is concluding that whilst these changes are enabled by technology advances and government policy, they are now being driven by customer expectations. The pace of change in the energy market is likely to be much faster than we have historically seen.
“Guernsey’s energy policy direction, including the island’s environmental aspirations, remains extremely important in setting the direction for our infrastructure investments in the power, heat and transport markets. For Guernsey Electricity, a direct subsea cable to France would enhance energy security and enable us to access more affordable low-carbon electricity, but would be the company’s largest ever capital investment and its cost impact needs to be fully assessed. Guernsey Electricity is committed to making the transition into the future energy world affordable, smooth and effective, thus ensuring the best outcome for Guernsey.”
Beyond 2022, Guernsey Electricity foresees a greater uptake of electric vehicles and other developments in technology, from a smarter grid to energy storage, as well as micro and macro forms of electricity generation and is already considering these changes in order to meet Guernsey’s energy needs. Securing the ability to import low-carbon electricity, understanding distributed generation and energy storage within the network and ensuring charges for supplying and receiving electricity are fair to all is fundamental.
“As the States of Guernsey develops its energy and environmental policies, which will inform renewable energy targets over the next five years, we will engage positively to ensure our customers’ voices are heard. By 2050, energy could look very different to now, but Guernsey Electricity’s commitment to providing the highest quality service will remain,” added Mr Bates.
To review Guernsey Electricity’s 2017/18 annual report and accounts please visit: https://www.gov.gg/article/169165/Guernsey-Electricity-Limited—Annual-Report-and-Accounts
