Grenlec Encourages Customers to Conserve as Fuel Prices Increase

Grenlec is encouraging customers to manage their electricity usage, as world fuel prices have increased the cost of electricity over the last 2 months.

In June, customers paid 2¢ more per kilowatt-hour (unit) of electricity than they paid in May. With a non-fuel rate that has remained virtually unchanged in 22 years, this recent increase in electricity prices is due to the rise in the price of fuel on the world market.

Monthly Fuel Charge
June 2014 – June 2016

Month 2014 2015 2016
January 48 cents 29 cents
February 41 cents 25 cents
March 38 cents 23 cents
April 37 cents 22 cents
May 38 cents 24 cents
June 63 cents 39 cents 26 cents
July 63 cents 40 cents
August 63 cents 39 cents
September 62 cents 35 cents
October 61 cents 33 cents
November 58 cents 32 cents
December 54 cents 31 cents

Announcing the upward movement of fuel prices, Collin Cover, General Manager of Grenlec, said that despite the increase, the fuel charge is still 37¢ per kWh lower than 2 years ago, and 3¢ lower than the beginning of this year. He added, “We are advising customers, because while Grenlec and Grenada cannot control world fuel prices, our customers need to be aware of what is happening. We also want customers to understand that they have the power to manage how much electricity they use, and urge them to develop good electricity conservation habits even while the price is low. Do not waste energy even if it is cheap.”

Electricity prices continue to be the lowest they have been in many years
Electricity prices continue to be the lowest they have been in many years

While Grenlec enjoys a marginally lower price from Petrocaribe, this price moves with changes in world fuel prices. Over the past 2 years, world fuel prices have dropped dramatically resulting in a more than 40¢ decline in the fuel charge that Grenlec has passed on to customers.

The Grenlec CEO is advising customers to take advantage of energy management information provided by the Company and others, to cultivate responsible energy use habits that will serve their homes and businesses well.

Mr Cover added, “Even in the future we envision of stable electricity prices from renewable energy, we will consistently tell our customers to conserve energy and preserve our environment for the generations to come. The information we are providing will help our customers make good decisions about how to get the most value for the money they spend on electricity”.

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