Port prices in Jersey are set to increase above inflation rates over the next five years, according to Ports of Jersey (POJ).
The Jersey Competition Regulatory Authority has authorised the operator, acting on behalf of the States, to raise prices by up to 1.8% above the retail price index annually.
This increase is expected to generate funds for enhancing services and facilities at the island’s harbours and airport.
Tim Ringsdore from the regulatory authority stated that the decision supports POJ’s improvement plans.
"We have taken a careful approach in line with the Government’s Ports Policy Framework," he said. "The authority is confident that POJ can meet its goals with the new pricing structure, balancing necessary investment with the protection of current and future port users' interests."