‘Average Reduction Across All Groups Of 1.6%’

May 17, 2021 | 6 Comments

“Based on the information provided in the RA’s order to BELCO, new retail rates are expected to yield an average reduction across all customer groups of 1.6%,” Minister Walter Roban said.

A Government spokesperson said, “The Minister of Home Affairs, the Hon. Walter Roban has responded favourably to the Regulatory Authority’s [RA's] announcement that electricity retail rates will be reduced. He fully supports this announcement as this achieves the Government’s throne speech commitment to reduce electricity costs.

“The RA revealed, “With a focus on providing relief to consumers due to the impact of the Covid-19 pandemic, the RA has been able to reduce the 2021 Retail Tariff for Bermuda’s electricity sector across all customer groups for the second year in a row.

“The Retail Tariff is the rate at which electricity per kilowatt hour is sold to consumers and is reflected as a ‘Usage Charge’ on a monthly BELCO bill. The new rates come into effect 1 June 2021.”

Minister Roban stated, “Based on the information provided in the RA’s order to BELCO, new retail rates are expected to yield an average reduction across all customer groups of 1.6%. Residential customers can expect 1.7% reduction in their retail rates on average, while commercial customers can expect 1.8% reduction on average, and demand customers 1.4% reduction on average.”

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Comments (6)

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  1. Well whoop de do PLP says:

    Wow that means my $600 electric bill will go down by $6 – well I guess that’s better than going up? But don’t declare victory mr minister – that’s just a coffee (or not even that) per month!!!!

  2. Joe Bloggs says:

    “The Minister of Home Affairs, the Hon. Walter Roban has responded favourably to the Regulatory Authority’s [RA's] announcement that electricity retail rates will be reduced. He fully supports this announcement as this achieves the Government’s throne speech commitment to reduce electricity costs.”

    It is good to know that the RA does what the PLP Government wants

  3. truthhertz says:

    Wow!!! Based off my average bill that will save me a whole $7 a month, which ironically will be offset by the increase in RA charges announced recently.

    So I am going to save around $5 a month or a whole $60 in one year!!!!

    Amazing stuff indeed.

    PS: Yes, it is sarcasm.

    • Ringmaster says:

      Not so fast! Oil has increased in price so next month the fuel adjustment will be probably be increased to take back that $5 (plus probably more).

  4. Guy Carri says:

    So relief because of the pandemic but invented the “green” tax. Right.

  5. Question says:

    So they apply an extra bunch of usage charges and taxes, and then when they don’t collect them all they call it a ‘reduction’ and expect us all to be grateful. Conmen.

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