Energy firms keep fuel price hike 'under scrutiny'

Energy companies serving the Channel Islands are closely monitoring fuel prices following increases linked to the Middle East conflict and Iran's warnings about the Strait of Hormuz, a vital passage for global oil and gas shipments. Islands Energy Group reports that spot gas prices have become highly volatile and risen sharply since hostilities began, potentially forcing the company to adjust its pricing if elevated costs persist. Meanwhile, Guernsey Electricity has mitigated price shocks by importing most electricity through undersea cables from mainland Europe and using forward hedging strategies.