States’ Trading Supervisory Board (STSB) - With great power comes no accountability; the 10 year failure of Guernsey Electricity Limited (GEL)
The rationale behind the formation of trading Companies for post, telecoms and electricity was clear; commercialisation of the entities would bring benefits to the people of Guernsey by eliminating inefficiencies whilst retaining State ownership and the financial benefits that would be returned via dividends.
A founding principle was independent regulation.
Since Guernsey Electricity’s formation however the reality has been very different. GPEG’s latest report has uncovered:
GEL resisting regulation at the detriment of its customers
Misinformation by GEL, telling customers that 100% of Guernsey’s electricity is from renewable sources when in fact 95% is nuclear
GEL failing to meet the Energy Policy targets set
Anti-competitive behaviour by GEL
These failings by GEL are failing the people of Guernsey.