The Jersey Competition Regulatory Authority (JCRA) has reported a busy twelve months in its first full year as a standalone organisation.
The JCRA has published its Annual Report and Accounts for 2021, detailing its performance and achievements for the year. It is responsible for regulating the ports, post and telecoms sectors, as well as overseeing the Island’s competition law.
The telecoms sector was particularly active, with two market reviews and three investigations undertaken. In addition, the JCRA met its objectives across a diverse scope of activity and continued its vital work in ensuring markets work well for Jersey.
During 2021 the organisation approved a number of mergers and provided advice on competition issues. Three market studies commenced in 2021, which will be concluded in 2022.
Stephanie Liston, Chair of the JCRA said, “As a small nation regulatory authority, we are determined to be best in class. Through our personal engagement, we are pleased to find people asking for our advice and guidance on a wide variety of subjects affecting the Island.
“Our overall approach is to listen and work proactively with stakeholders. We prefer this approach to confrontation. We have significant powers which we have exercised and will continue to use, as appropriate. However, we are concentrating on being forward looking and focusing primarily on positive and lasting outcomes for Jersey.”
The JCRA set out four strategic goals for 2021:
- To protect and encourage competition;
- To deliver effective supervision of regulated sectors;
- To safeguard consumers; and
- To establish the JCRA as a respected organisation.
Tim Ringsdore, CEO of the JCRA said, “It has been a challenging year as we built a new team, strengthened our Board and managed the consequences of the global pandemic. At the end of 2021, the JCRA is in a strong position to continue to focus on Jersey and Jersey consumers.
“We will continue to engage with all stakeholders and focus on key projects that help markets work efficiently in the interests of consumers, businesses and the wider Jersey economy. We look forward to encouraging innovation, investment, value for money, choice and quality, making Jersey an attractive place to do business.
“This year is likely to need an increased focus on ensuring our approach provides the right balance of outcomes as the economy and local businesses continue to recover from the pandemic against a backdrop of recruitment, supply chain and costs pressures.”
The full Annual Report can be found on the JCRA’s website , along with the Annual Business Plan, Prioritisation Principles and Strategic Plan.
