The Regulatory Authority of Bermud has set the Fuel Adjustment Rate on electricity bills at 14.226 cents per kWh, effective 1 July. The previous rate was 13.784 cents per kWh
The island’s energy regulator has set a new fuel adjustment rate at 14.22 cents per kilowatt hour.
This rate amounts to an increase of just over $2 dollar to the average monthly bill. However, the government said the increase would have been far steeper without the government’s fuel duty relief that would have stood at roughly 16.46 cents per kilowatt hour.
The increase was registered due to higher global fuel costs and energy sector price shocks.
Home Affairs Minister Alexa Lightbourne said in a news release,”I know what a rising power bill means in a Bermudian home. Global fuel prices rose this quarter, and the Government chose to stand between that increase and the family bill because we want to protect Bermudians during times of global instability.
“We will keep this protection in place and keep watching every cent to help those we serve.”
The government said the adjustment carries no change to BELCO’s base rates or regulated returns.
