Jersey Electricity posts pre-tax profits of ã6.5m for the year to the end of September - 14% up on last time.

Turnover rose by 5% to ã102.3m and earnings per share rose by 31% to 16.39p.

The dividend of 11.25p per share is up 2%.

Chairman Geoffrey Grime said: "If 2011-12 was spent responding to extraordinary challenges, 2012-13 was spent delivering a foundation for recovery.

"The loss in June 2012 of the older of our two interconnectors to France before our long planned third submarine cable, Normandie 3 could be installed, led to a severe restriction in importation capacity into Jersey. This meant re-mobilising La Collette Power Station from an emergency standby facility to a 24/7 generation hub.

"Reallocating staff and accelerating plant capacity upgrades required extra investment and tremendous focus by all concerned. As if this was not enough, the past winter saw the worst snow storms in a generation resulting in significant damage to our overhead network. Regrettably, events left us little choice but to increase tariffs by an average 9% in January 2013.

"However, our tariffs remain very competitive with peer jurisdictions and well within our target of +/-10% of the European average. We responded positively to restore a good operational performance in our Energy business and our supply reliability in the last financial year returned to a strong level at an average of 13 minutes of lost supply for each customer, around five times better than the most recent figures in the UK."