Unfortunately for Alderney residents, the prices of electricity cannot be lowered, stated chairman of Alderney Electricity Mike Richards, reports BBC.
Mike Richards said that there was no quick solution for this problem, and that tidal energy could be the answer, but not in the near future as it would take some time to develop.
It is estimated that the British Isles has around 50% of the tidal energy resource in Europe and up to 10% of the global resource. The seas around Alderney contain some of the most powerful tidal resources in the British Isles.
At the meeting held at the Island Hall, Richards also stressed the importance of attracting more businesses into the island as this would have positive effect on electricity prices.
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Offshore WIND staff, July 24, 2013; Image: Alderney Renewable Energy