Column: Minister On Energy Rate Reductions

May 19, 2021 | 2 Comments

[Opinion column written by Deputy Premier & Minister of Home Affairs Walter Roban]

We all know Bermuda is really expensive. So many of our people are feeling the squeeze on many fronts. That’s why the PLP Government is working on your behalf every day to continue providing aspects of relief.

During Covid-19, we provided financial relief to those who lost their jobs, saw their hours cut or had their small business shut down or lost revenue. We also allowed people to make withdrawals from their private pensions. These initiatives helped to bridge the gap for many Bermudians. The Minister of Labour closed additional job categories for work permits to ensure more employment opportunities were made available for Bermudians while boosting training programs available for persons that lost their jobs.

These actions show that your government is prepared to do whatever it takes to ensure people survive through the tough times.

But, that’s not all we have delivered. Over the last two years, thanks to constant work and pressure, we have helped to deliver a reduction in electricity costs. These costs have affected and will continue to affect all households in this island.

Effective June 1st, there will be an average of 1.6% reduction of rates across all customer groups. Residential customers can expect an average 1.7% and, depending on demand, businesses can expect reductions between 1.4% and 1.8%.

This reduction is on top of the previous reduction in January 2020 which averaged 4.2% across all customer groups, with the most relief going to smaller households with some rate categories dropping as much as 19%!

How does this 2nd round of energy cost reductions impact you? The average house in Bermuda uses approximately 600kwh per month. In December 2019, this would have meant an electrical base rate of $163.33. That same usage in June 2021 will be $143.69 a base rate reduction of 12% or $235 per year.

Now, there are a lot of factors that are going to influence your personal bill including the global cost of oil. But, the bottom line is, while there is still more work to do, electricity rates are going down and this is good news for all of us.”

- Deputy Premier & Minister of Home Affairs Walter Roban

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Comments (2)

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  1. truthhertz says:

    Wow, a whole $5 a month in savings! I can now afford one extra cup of coffee a month! Amazing stuff PLP.

    What you forgot to mention was your approved January 4th 2021 rate increase as well as the recent RA fee increase which will be tacked onto our bills. Why wasn’t that rate increase made public Minister? I had to call and complain to Belco about my January bill and they referred me to a January 4th 2021 rate increase approved by yourself!

    You can fool some, but not the ones that are paying attention.

  2. LOL (original) says:

    Just wait the US and the rest of the world see hyper inflation on the rise, goods are already too much.

    LOL Go Biden Go. spend our biggest trade partner into collapse…you get 9 trillion, you get 3 trillion, unlock Iran’s 1 Billion as they will use that to improve their peoples lives or make their enemies lives harder. Utter garbage.

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