States of Jersey Owned Utilities Governance Review published
When standing for election as Treasury Minister, Senator Philip Ozouf promised to undertake a comprehensive review of the management of States-owned utility companies, which represent millions of pounds worth of public assets. He commissioned Deloitte to do the work and is now publishing the results of that review.
Deloitte’s report sets out a number of recommendations to strengthen the Treasury’s oversight of the 4 utility companies, to improve governance and to enhance communication between the Treasury and the companies. It also advises on setting up an appropriate shareholder model which meets international best practice.
Senator Ozouf said “This review sets out a number of recommendations for improving the oversight of these valuable public assets. I will be implementing some of the recommendations immediately and will set out a timetable for considering and carrying out the remaining suggestions.”