Customers could see rates drop by 0.54-2.66%
Image: BELCO.bm
The Ministry of Home Affairs acknowledging the Regulatory Authority of Bermuda’s (RA) recent approval of adjustments to BELCO’s electricity rates, which resulted in an average reduction of 0.54% to 2.66% across customer classes.
A government spokesperson says that the decision marks meaningful progress toward “balancing the need for a sustainable energy infrastructure with the interests of Bermuda’s residents and businesses.” Lower electricity rates could provide much-needed financial relief, support affordability, and contribute to the island’s economic recovery.
Minister of Home Affairs, the Hon. Walter Roban, stated via press release, “The Government remains steadfast in its commitment to ensuring energy affordability, reliability, and sustainability for all Bermudians. A commitment that aligns with our broader goal of responsibly addressing the island’s economic and environmental priorities.”
“I commend the collaborative approach taken by the RA and BELCO, whose efforts underscore the importance of transparency and accountability in Bermuda’s energy sector. The Ministry looks forward to continued cooperation to ensure a sustainable and equitable energy future for Bermuda.”
