Sheap Tariff Review

Despite the current energy crisis and escalating cost of domestic heating, Shetland Heat Energy and Power have made the decision to hold their current prices for the second year in a row. Prices will be reviewed again in March 2023. By that time it will have been three years since the company’s last price increase.

Executive Director Derek Leask explained; “As a community based, local energy company we want to act responsibly given the high prices of energy Shetland consumers are currently facing. Although we have around 1050 domestic customers in Lerwick we also supply heat to the hospital, care homes, schools and many other public buildings that provide benefit to the whole of Shetland. We’ve done a lot of development work this year that ensures our energy mix is more efficient with reduced emissions. This enables us to hold our price at current levels.”

SHEAP supplies heat and hot water to consumers at a competitive 6.9 pence/kw. This is at least a third lower than current electricity tariffs which are set to rise further with the removal of the current price cap.

Leask added; “It is likely that we will make price adjustments next March following three years at existing levels. However we will endeavour to keep these at a modest rate and customers won’t experience the dramatic hikes that other energy suppliers are having to impose.”

SHEAP provides around a quarter of the energy used for heating and hot water in Shetland and is owned by Shetland Charitable Trust.

Posted on 17th February 2022

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