Initiation: Growth connection
Jersey Electricity achieved a significant improvement in profitability in FY14, reflecting the benefit of tariff increases and greater use of lower cost imported electricity. The commissioning of the Normandie 3 interconnector, ahead of time and budget, should allow for a further recovery of profits in FY15 while tariffs remain stable. Additional investment in interconnector capacity will lead to further increases in profitability beyond.Jersey Electricity is the sole supplier of electricity in Jersey. Co. is involved in the generation and distribution of electricity and jointly operates the Channel Islands Electricity Grid System with Guernsey Electricity Limited importing power for both islands. Co. also engages in retailing, property management, building services and has other business interests, including software development and consulting. Co.'s business segments are: energy; building services; retail; property; as well as other segments, which includes Co.'s Jersey Energy, Jendev and Jersey Deep Freeze Limited business units.
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