Electricity prices on the Island are set to rise by 30% over two stages.
A rise of 15% will come into effect in April, and a further 15% in July - government says this is to reduce impact on households and businesses.
It means electricity charges for most users will go from 16.9 pence per unit up to 22 pence.
The increase is due to the recent rise in prices globally, which is also being aggravated by Russia's invasion of Ukraine.