Why are electricity prices going up in Guernsey?

Guernsey's electricity prices are set to rise next month due to various factors, including underinvestment in infrastructure and the ending of a fixed-price agreement for electricity from France. Guernsey Electricity Ltd (GEL) attributes the price hike to increased borrowing costs, decarbonization plans, and the need to catch up on infrastructure improvements. Citizens are urged to seek advice if concerned about the upcoming tariff changes, as standing charges are also set to increase significantly by 2025. GEL recommends utilizing their unique Super Economy 12 tariff to potentially save money amid the rising costs.