JERSEY ELECTRICITY

Jersey Electricity, through the joint venture Channel Islands Electricity Grid Limited, has signed a new four-year power supply contract with EDF that takes effect on 1 January 2028 and replaces the existing agreement on 31 December 2027. The island obtains most of its electricity from France (primarily nuclear and renewables) and relies on subsea cables plus local generation as its supply base. The arrangement increases flexibility in the timing and management of power purchases; Jersey Electricity will continue to use procurement and hedging strategies to manage risks on international energy markets. The company says the contract strikes a balance between security of supply, commercial flexibility and the controllability of future energy costs in light of expected demand growth from electrification. » More on de.investing.com

Jersey Electricity has completed a new five-year revolving, unsecured credit facility of £100m with sustainability-linked terms and made adjustments to existing US private placement notes. The facility, provided by Lloyds, NatWest and HSBC, carries a margin of 0.85% over SONIA, includes two one‑year extension options and an uncommitted accordion option of up to £50m. In addition, an uncommitted shelf facility of $150m was established and the £30m US private placement notes were re‑priced. The financings will support a five‑year £180m investment programme to modernise the power network, increase capacity and electrify the island; drawdowns will be made in stages according to project milestones. » More on de.investing.com