Reduced Electricity Rates As Of January 2015

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.

Article Footer 468x60

Facebook Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Posts