March 12, 2010
Slight reduction in electricity bill

Electricity consumers here can expect to see a slight reduction in their March bills.{{more}}

This is a result of a slight reduction in fuel sold to VINLEC for the generation of electricity during the month of February.

Reduction is also evident in the Fuel Surcharge.

Thornley Myers, Chief Executive Officer of VINLEC, at a press conference on Tuesday, March 9, disclosed that the price that will be reflected in bills for the month of March, stood at .37 cents per unit.

He noted that this was still rather high, but was lower than the .38 cents charged in the February bill.

This figure represents a reduction in fuel per gallon, sold to VINLEC during the month of February.

Although not being able to predict if the continuing trend of a reduction in the price of a gallon of gas will extend past the month of February, Myers emphasized that consumers needed to be mindful of the need to conserve energy.

“The time to conserve is now more than ever,” he said.

The drop in Fuel Surcharge was unlikely due to the low hydro outputs as a result of the drought affecting the country and the demand for fuel generated electricity increases.

According to Dr.Vaughn Lewis, VINLEC’s Manager of Engineering, hydro output levels for the month of February were as low as 8.17 per cent. This compared to 28.21 per cent over the corresponding period in 2009.

Myers, however, added that he and his team were committed to sourcing renewable energy for the generation of electricity.

The CEO explained VINLEC has been looking to expand the amount of energy produced from a renewable source since 2005.

The emphasis has been broadened to include hydro, wind energy, geo thermal and solar.

Myers disclosed that efforts to commission a wind farm here were unsuccessful, as VINLEC was unable to obtain a developer. He noted that this does not mean that the company would cease its plans to develop a wind farm here.

“Any form to produce and reduce amount of fuel would be of great benefit to us,” Myers contended.

He also indicated that in addition to looking into the possibility of developing wind and solar energy, VINLEC is seeking to rehabilitate the existing hydro plants at South Rivers, and Richmond.

“We also have an idea of increasing output by installing a downstream plant in Colonarie over the next 2 to 3 years,” he further stated.