 The price freeze will last for six months |
Jersey Telecom has been told to freeze its prices for the next six months by the island's regulation watchdog. The freeze starts with immediate effect after being imposed by the Competition Regulation Authority.
The authority is looking at the postal sector and at competition laws for the Island.
The authority said: "Telecommunications services, like postal services, are a key into virtually every enterprise on the Island.
"Introducing competition has the potential to lead to important improvements in efficiency, productivity and innovation within both sectors with consequences for overall economic welfare and growth in Jersey.
"Many in business will have understandable concerns about opening the markets up too quickly to competition."
Jersey Telecom said: "We recognise the importance of first class telecommunications to the island's economy, and in particular the needs of the finance industry."
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