16th Dec 2025 13:27
(Alliance News) - Jersey Electricity PLC on Tuesday reported decreased profit but higher revenue for its latest 12 months.
The Jersey-based electricity importer, generator and distributor's pretax profit was GBP14.2 million for the year ended September 30, down from GBP15.1 million the year before.
Revenue increased 7.7% to GBP146.2 million from GBP135.7 million, "driven by steady unit sales growth and the continued transition to electric heating and transport".
Chair Phil Austin said that the profit decline was "lower than the previous year primarily due to the revaluation of the property portfolio and a one-off past service pension liability".
The value of its investment properties decreased to GBP25.8 million as of September 30, from GBP26.7 million one year prior.
"The group delivered a solid performance in 2025, underpinned by disciplined management and continued investment," said Chair Austin.
"The easing of wholesale electricity markets provided some relief, and we welcome a period of relative stability in wholesale energy prices after several years of severe volatility."
Jersey Electricity proposed a 12.60 pence per share final dividend, up on-year from 12.00p. The total dividend for the year is 20.82p, up 5.2% from 19.80p in financial 2024.
Going forward, Austin said: "We remain well positioned for the future, with a strong balance sheet, clear strategic direction and demonstrable progress against our long-term objectives.
"The current pricing structure continues to offer good value and stability for customers while supporting the investment required to deliver Jersey's energy transition."
Shares in Jersey Electricity were flat at 470.00 pence each on Tuesday afternoon in London.
By Emma Curzon, Alliance News reporter
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