New Regulatory Authority Fee On BELCO Bills
As of April 1st, 2017, BELCO is required to pay a Regulatory Authority Fee in the amount of $0.00475 per kilowatt-hour sold, and a result, “all bills with meter reading dates from April 1st, 2017 will now include a new recovery fee, titled Regulatory Authority Fee, based on the above-stated rate.”
The company said, “BELCO would like to advise its customers that in accordance with the recently enacted Electricity [Regulatory Authority Fees] Regulations 2017, as of April 1st, 2017, BELCO is required to pay a Regulatory Authority Fee in the amount of $0.00475 per kilowatt-hour sold.
“As a result, all bills with meter reading dates from April 1st, 2017 will now include a new recovery fee, titled Regulatory Authority Fee, based on the above-stated rate.
“Additionally, in order to adjust our billing system and ensure the new fee is accurately reflected on customers’ bills, there has been a delay sending out bills with meter reading dates from April 1st.
“We recognize that our customers depend on receiving bills on a regular schedule and are working diligently to get them sent out as soon as possible.
“It should be noted that payment discount dates are based on the billing date, not the meter reading date. Therefore, when bills are ultimately produced and sent out, a new discount date will be assigned.
“Customers who have any questions or concerns should contact BELCO’s Customer Experience Team on 299.2800.”
I swear they’re just making $h!t up to get our money now.
Airport money again !!!!!!!!!!!!!!!!!!
Couldn’t be more wrong, but you are free to think as you wish. Jah bless
Belco collects the fee from the customer to pay the Regulatory Authority. The customer pays the fee!
Ridiculous!! This is a cost of doing business.
April Fool
Just when we thought bills were supposed to be getting cheaper!! I would like to know the total amount that this will raise and will the full amount be going to the regulatory authority?
Well if you do the math… for a small apartment this will add about $1.50 into your bill. Who cares. I’m ain’t eennn a balla and I don’t care bout one fiddy.
$3.5m for the RA to run? What do we get from this?
Great question!
F##K ALL
Bermudians, get this crazy government OUT. oba, and ALL portions of management in this country sit regularly and discuss the best ways to silence Bermudians.
This was done while the P.L.P. was in power. That is why sooo many nasty and calculating agendas have been implemented, SO SWIFTLY!.
If Bermudians stand TOGETHER, WE WILL CRUSH THIS ATROCIOUS MONSTER.
PLP and OBA are both pretty stupid. Whom do you recommenced we vote for?
Yet When health insurance cost reduced this week nobody said a word.
Well , they did move in the right direction but the reduction was about as minimal as it could have been .
What pisses me off is that we should be enjoying the lowest fuel costs in decades but what did our government do ?
They took advantage of it to raise money for themselves instead and hiked the tax on it .
What is going to happen when oil prices rise again ? Hell , few of us will be able to afford gas .
Oh , and didn’t many believe that shipping costs and many other things would go down because of the big decrease in oil price ?
HA ! Still waiting for that to materialize .
Yourself included….while you sit on your judgement throne!!!
ugh as if we can afford our bills now smh
Bermuda’s tombstone will read ..
‘Here lies the remains of a once lovely island that died because everyone thought there was no end to the money ‘
Believe the fee aint much and at least we have someone watching BELCO! Thank you RA and OBA!!!
Now that the electricity sector is being regulated sounds like a fee similar to the handset fee for mobile phones is being instituted here. The mobile handset fee which is 9.50 per active line per month is also a cost passed on to the consumer. Just putting things into perspective.
We live in a sick , greedy world where the average citizen has to always pay every tax put on all institutions by Government. All the corporations can worry about is how much record profit they won’t make, all on the backs of the Hard-Working Citizen who is STRUGGLING to raise his family and pay his regular cost of living bills! Still, after 8 years, no pay raises to compensate inflation. Sick Island, Sick World.
what exactly does the Regulatory Authority regulate….. seems like we are getting shafted from everybody Belco, ISP’s, gas stations grocery stores….what purpose do they serve and WHY do they need this money…smh
Who wins?? They Regulator take on the internet service providers first. Part of our monthly internet rate goes to them to fund their organization whilst imposing insane fines to service providers to meet unreachable targets which prevents rates going down as that money has to come from somewhere, the consumer.Now they take on Belco who provide power to the internet providers core networks and power the undersea cables systems and put a increase rate on electricity which goes back to the service providers and has a negative effect to the consumer again, let alone consumption in our homes. Wait for the Belco Targets and fines for more price increases. And they are here to protect the consumer……..?
No matter how you try to justify this BS, this is privateering at its best
Rather ironic that the RA, who are the watchdog working on behalf of the consumer are actually the cause of energy price hikes… In 5 years time we will all look at the RA and assume it is an essential body when in reality it appears to achieve very little and at a disproportionate cost to the consumer. The authority is unfortunately here to stay and will only get bigger and more expensive for the consumer to fund. This is precisely how the civil service can balloon under our noses.
And now another ‘fee’. Firstly there is the Financial Services Tax- to apply to Insurance Premiums at a rate of two and a half percent- Yes including applying to home insurance,bikes and cars et al – and then as a sweetner Health premiums incl’ HIP and Futurecare are reduced by $4.00 per month. One hand giveth and the other taketh away – and more.
All done very quietly. Did you notice. Did the PLP complain loudly?
Fookers!!!!!!!!
We can’t afford the bills now. What were they thinking!!!!!
You people make me laugh! You b!%@h and complain at the excessive cost for light bills and now there is some one here to regulate that and make sure the monopoly don’t take advantage of you and you still complain!
Belco wins, Bermuda loses, AGAIN!
I want to know what part of this new fee must be absorbed by Belco. It appears that Belco will simply pass on the entire increase and it will be the average person who pays not belco. The Ra should not allow Belco to pass on 100% of the new fee to consumers.
Bermuda is drowning in regulators, none of whom have any idea how to do their jobs. The banking regulator allowed a mortgage crisis to hobble Bermuda’s economy for the past decade. The electricity and internet regulator oversees some of the most expensive electric and internet service on earth despite 3rd world service. The casino regulator has spent millions to regulate zero casinos.
This it TOTAL BS and why the hell are we once again allowing Government to walk all over us, this fee is a sham, the RA should NOT be paid by the people paying light bills 00.475 cents on each kWh today then what in the coming years? it will only increase, Governments charges will be more than BELCo’s at that point. And anyway the fact the RA are so ineffective and prejudice in everything they touch is something that seems to have escaped this administration, the Government already makes a huge amount on our electricity bills as “fuel surcharge” we should refuse to pay this nonsense and Government you need to start thinking about who put you there, can you really be so stupid after the screw-ups of the last 4 years your going to throw another tax at us to support a Government department in an election year
“, can you really be so stupid after the screw-ups of the last 4 years ”
You meant the last 14 years, right? typo
The OBA had to raise taxes, anybody with a brain in Bermuda should have seen this coming. This is the result of the PLP racking up enormous debt. This was the only option people you should have known. We told you when PLP was racking up the debt that our children and grandchildren would be paying for all of this. Slowly raised taxes all around was around the corner. How else would they decrease the debt?
And yes I am also super unhappy that I have to pay for the PLP’s incompetence despite paying all my taxes in a timely manner during their tenure.
Do this or i suggest everyone invest in your own house hold generators.There oht there right now…one is called the cube…it powers all of google has a very small footprint.
You see…there is a limit…threshold you must not pass…
plp should pay the debt.