Based on an annual adjustment made by the Grenada Electricity Services, GRENLEC, customers will pay reduced rates in the next six months. As of January 2015, customers will pay a reduction in the non-fuel charge on their electricity bills.
This announcement comes from GRENLEC’s Interim Chief Executive Officer, Clive Hosten, who explains that the reduction will see domestic customers paying 3.19 % less monthly. For commercial and industrial customers, the amount will be 3.20% and 3.18 %, respectively.
A release from GRENLEC quotes Hosten as saying: “This is welcome news for our customers at a time when the global price of fuel has kept electricity and other costs high. The average non-fuel charge should, therefore, decrease by 3.20 %, from 44.41 cents per kilowatt hour (kWh) to 42.99 cents/kWh, a decrease of 1.42 cents per kWh.
“This decrease in rates will bring the non-fuel charge in line with 2009/2010 levels and customers can look forward to begin benefitting from the lower rate from January 1, 2015.”
The Electricity Supply Act of 1994 provides for the non-fuel rates charged to customers to be adjusted annually, either upward or downward based on inflation. In keeping with a requirement of the Act, the company has submitted the intended adjustment to the Public Utilities Commission, who has up to 120 days to respond.