Islands Energy Group (IEG) invested more than £5m across Guernsey, Jersey and the Isle of Man in 2023, its 2023 report has revealed.
The majority of the investment was spent on improving and maintaining the core networks – which deliver gas to homes and businesses – across the three islands.
Islands Energy Group
IEG’s investment programme is headed by its asset management and investment teams, who continuously assess the company’s assets and recommend maintenance and replacement.
The data is included in IEG’s 2023 report, which has been published this week and is available in full on the energy company’s website.
IEG’s CEO, Jo Cox, welcomed the report’s data and the progress made by the company in the past 12 months: “2023 was not plain sailing – but transformation is rarely achieved without challenges.”
Investments
Cox added: “Much of our operational effort in 2023 has been geared around making lives better – including our colleagues, our customers and everyone who lives in our island communities.
“The report spells out how we’ve made great strides towards this aim, and are cementing ourselves as a responsible, accountable part of island life.
“Investing more than £5m across the islands demonstrates our commitment to improvement, and our recognition that the energy sector is changing rapidly. Without investment, we wouldn’t be able to play our part in the islands’ energy transitions, and helping the islands’ governments achieve their aims.
IEG’s CEO, Jo Cox
“We believe that a mixed solution is the way to bridge the gap between where we are now, and where we need to go. 2024 holds huge potential for IEG, and we’re excited to see where it takes us, our dedicated colleagues, and our customers.”
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