VINLEC records lowest fuel surcharge rate on February 2015 bills

Customers of VINLEC will see a reduction in the fuel surcharge rate applicable on bills for February 2015.

The fuel surcharge rate applicable on February bills is 31.69 cents per unit. This figure represents a decrease of 13.8 cents from last month’s figure, which was 45.49 cents per unit.{{more}} This month’s fuel surcharge rate is a record low for the company, having recorded similar figures in the final quarter of 2009.

The decrease in the fuel surcharge rate is as a result of the decrease in the cost of fuel on the international market, combined with the increased output from the company’s hydro power plants. The hydro plants accounted for 18 per cent of total electricity generation, which led to a reduction in the amount of fuel used to generate electricity. VINLEC’s fuel surcharge rate is calculated using the consumption and other statistics from the previous month.

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. Consequently, the fuel surcharge rate is reflective of these variables.

VINLEC remains steadfast in producing supply of the best quality and value and works to ensure that there is efficiency in its operations.

The company is encouraging 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.