September fuel surcharge rate lowest for 2012 – VINLEC

The Fuel Surcharge Rate applicable on electricity bills for September is the lowest for 2012, VINLEC announced on Monday.{{more}}

Electricity consumers will see a decline in the Fuel Surcharge Rate applicable on their September bills, the company said.

VINLEC said that Fuel Surcharge Rate applicable on this month’s bill stands at 46 cents per unit – 15 per cent or 8.02 cents less than last month’s figure, which was 54.02 cents per unit.

This decrease in the Fuel Surcharge Rate is primarily as a result of the reduction of the average price VINLEC paid for fuel.

The average price of fuel consumed during August was $9.95 per gallon, compared to $10.79 cents per gallon in July.

Additionally, the generation output from VINLEC’s three hydro stations at Richmond, Cumberland and South Rivers increased by 6 per cent during the same period.

The company reminded consumers that the price of fuel on the international market influences the local Fuel Surcharge Rate, which is calculated based on the fuel consumption for the previous month.

“VINLEC wishes to reassure customers that the company will continue to work to improve the efficiency of its operations,” the company said in a release.

“We continue to encourage customers to continue energy conservation practices in an effort to reduce consumption. VINLEC will continue to monitor the developments in the international market and keep customers abreast with these developments.”