The maximum unit price that Sark Electricity Limited (“SEL”) can charge for electricity will reduce from 53 p/unit to 44 p/unit from the 1st August 2023.
This price reduction is because of the monthly correction mechanism in the price control, which has been in place since 1st April 2023. This mechanism compares actual fuel prices and demand to what was forecast in the price control and, once a certain threshold is reached, a change to the maximum unit price is triggered. In this case, the reduction in the maximum unit price to 44 p/unit results from a fall in average fuel prices of 11%, and an increase in average demand of 4%, over the first 3 months of the price control.
The monthly connection fee will remain capped at £10/meter and the monthly standby charge for own-generators will remain capped at £5/KW of installed capacity.
Shane Lynch
Electricity Price Commissioner
©2024 Electricity Prices Control Commissioner, Sark, Channel Islands
