Electricity Retail Tariffs Reduced For 2020

December 17, 2019

The Regulatory Authority of Bermuda announced that “effective January 1, 2020, retail tariffs for Bermuda’s electricity sector will decrease across customer groups.”

“The retail tariff is a component of a monthly BELCO bill that is reflected as a ‘Charge’. It is the rate at which electricity per kilowatt hour is sold to consumers,” a spokesperson said.

Jozelle Opoku, Head of Regulation at the RA, commented: “After months of extensive review, we are pleased that the outcome has resulted in a reduction in the cost of electricity of all consumer groups.”

“The rate review process included an in-depth analysis of BELCO’s costs to generate, transmit and distribute electricity, its capital costs and operational, maintenance, overhead, depreciation, amortization and administrative costs.

“A further review of the retail tariffs will be completed before the end of 2020 to set tariffs for subsequent years.”

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Comments (3)

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  1. comfortably numb says:

    Did I just see a pig flying as well? Well done Ms Opoku!

  2. Jokers says:

    Does this include the 1M increase the RA wants for building an empire of new positions ?

  3. Kathy Cervino says:

    Awesome! Can you also do an extensive review of the FIT? This definitely needs a review. The rest of the world enjoys a much higher rate, percentage-wise, when compared to electricity rates.