ITV Channel's Caroline Lewis speaking to Jersey Electrics CEO, Chris Ambler
The price of electric in Jersey will increase by 4% from January 2022 as wholesale prices in Europe have more than trebled year-on-year.
The latest hike will add roughly 80p a week to the average domestic bill - slightly above the current inflation rate.
The rise is only the fourth in the last seven years and the first in 15 months after Jersey Electric deferred its planned April 2020 rise by six months to October 2020 to help those who had been affected by the pandemic.
Jersey's standard domestic rate is still 46% lower than the regulated energy tariff in the UK.