JEC ‘confident’ of tariff approval

Monday 1st June 2009, 3:00PM BST.

La Collette power station

TOUGH trading conditions as well as rising costs have hit Jersey Electricity’s mid-year figures.

The listed company on Friday reported a 22% dip in profit before tax, to £5.3 million, in the six months to 31 March, although group turnover was up nine per cent, from £45.5 million to £49.6 million.

In a stock exchange announcement last week the board said it was ‘confident’ that a States review of the 24% price rise imposed on customers from 1 January would ‘confirm the appropriateness’ of the increase.

During the six months from September to March profit from the sale of energy alone was down 15%, from £4.4 million to £3.7 million, although the number of units sold went up by 2%.

The board says the 24% price hike did not cover the the 40% rise in the cost of electricty imported from France.

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1
Patrick

June 1, 2009 at 6:32 pm

It is a shame they agreed the price with the french before the oil price dropped.This is why we need our own energy from waves ect.

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2
JerseyJoe

June 1, 2009 at 9:31 pm

any good accountant can make the books look good or bad!!!!!

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3
sean

June 1, 2009 at 10:58 pm

hello!!!!!!!!!…..windfarm????????????

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