The price of electricity on Sark is set to rise to 70p a unit from the 1st of July.
In announcing the rise, Alan Witney-Price, the Managing Director of Sark Electricity Limited informed his customers.
‘The subsidy required to maintain 56p per unit through Q1 & Q2, of roughly £66,500 or £150 per customer over the period, has been met entirely by me and will not be recovered from you the consumer. My commitment to Sark remains steadfast, despite what some of you may believe.’
Looking to the impact that a 25% hike in the unit rate will have on his customers Witney-Price assured them that he is looking at ways of restructuring the company’s pricing model that would see many bills reduced significantly. This, he believes, will achieve the objectives of the island’s Prices Control Commissioner to increase demand for electricity on Sark.
‘In light of the fuel price increases we are seeing, and the continued losses that SEL incurs under The OPC pricing policies, it is my intention to fully revamp the pricing model of SEL and I will be issuing an entirely new tariff structure in the next 7 days that will take effect from 1st August.
This root and branch review will see many customer bills reduce significantly and should achieve The OPC’s stated aim of increasing demand. Coupled with our renewables transformation plan, it should produce significant benefits to our tourism centric economy and will I believe encourage new business and reduce the inflationary impact of the fuel crises, assuming businesses pass on the benefits to their customers.’
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