Three States companies to be commercialised

Guernsey Water, Guernsey Ports and States Works are to be commercialised.

Plans from the States' Trading Supervisory Board have now been agreed, meaning the businesses will remain wholly States-owned but with less political involvement in their day-to-day operations.

Vice president of the STSB, Deputy Charles Parkinson, said there were benefits to the changes, as demonstrated by the incorporation of Guernsey Post and Guernsey Electricity.

In the chamber, Deputy Parkinson said: "Incorporation has allowed those businesses to operate more commercially, with greater agility and a more customer-focused approach, and to make better use of all the assets at their disposal."

Deputy Parkinson said that the incorporated businesses have also been able to support "the States' wider economic, social and environmental policy objectives".

The arrangement has been in place for Guernsey Electricity and Guernsey Post for the past 20 years.

According to the States of Guernsey's latest budget report, external, unincorporated trading entities should raise sufficient revenues to fund all of their expenditure.

Guernsey Water is due to be the first of the three businesses to be incorporated, with the target being the start of 2028.

The STSB has been directed to report back to the States by the end of next year with more detailed proposals.

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