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WRITTEN QUESTION TO THE MINISTER FOR ECONOMIC DEVELOPMENT BY DEPUTY G.P. SOUTHERN OF ST. HELIER
ANSWER TO BE TABLED ON TUESDAY 17th NOVEMBER 2015
Question
When will the Minister (or his Assistant Minister with delegated responsibility for competition policy) bring to the Assembly the results of the Channel Islands Competition and Regulatory Authorities' (CICRA) enquiry into domestic fuel pricing?
When he does so will he liaise with other Ministers as required to seek further price reductions in the retail price of gas to build on the 3.5% reduction of last winter given that the wholesale price of gas has reduced by a further 30% over this period and, if not, why not?
Answer
CICRA will publish the findings of the fuel market review on their website on 20 November.
The report is an important first step in understanding whether the Jersey gas market is working in consumers interests. It would be wrong for the Minister to respond to questions regarding the need for gas price regulation until the CICRA report is publicly available.
However, it is not very informative to use a comparison of wholesale prices of gas in the UK with retail prices in Jersey given they are different points in the supply chain, that the gas used in Jersey is of a different nature and the market a different scale.