Fuel surcharge on January bills remains low – VINLEC

Customers of St Vincent Electricity Services Limited will continue to see relief in the Fuel Surcharge Rate applicable to their electricity bills for the month of January.{{more}}

VINLEC wishes to advise that the Fuel Surcharge Rate applicable on January 2015 bills is 45.49 cents per unit. While this figure represents a slight increase from the December Rate, it remains in keeping with the fuel price trend internationally. The Fuel Surcharge Rate applicable on December bills was 40.65 cents per unit.

VINLEC wishes to remind customers that there are several factors that influence the Fuel Surcharge Rate locally. Among these are fuel prices, fuel consumption and electricity sales.

The electricity in St Vincent and the Grenadines is generated using a mixture of diesel, hydro and a some solar photovoltaic. During the month of December, the amount of electricity generated utilizing hydro decreased by 37 per cent from the previous month. Consequently, VINLEC was required to utilize an additional 63,000 gallons of diesel more than the previous month. In addition, the total electricity sales decreased by eight per cent from the previous month. The electricity sales form part of the standard formula used to calculate the monthly rate.

VINLEC’s Fuel Surcharge Rate is calculated using the consumption and other statistics from the previous month.

VINLEC wishes to remind customers to continue to conserve electricity, as this will help to reduce the number of units consumed. The company will continue to monitor activities on the international market and keep customers updated on the related issues.