ANGUILLA–The Anguilla Electricity Company ANGLEC has announced that the Fuel Surcharge will be increased from 20 cents per kilowatt-hour to 31 cents as from October 15. The adjustment is a direct result of the continued increase in fuel prices worldwide. In a release from ANGLEC it states that the adjustment is in accordance with the Electricity (Rates and Charges) Regulations.
In explaining the increase, the release notes that volatile global market conditions cause the cost of fuel oil to rise and fall. The Electricity Regulations allow for both reductions and increases in cost to be passed on to consumers and are therefore a fair and efficient means of sustaining service in spite of volatility.
ANGLEC typically absorbs most increases in fuel cost to provide the most affordable rates for Anguilla. However, the company notes that when the financial burden becomes unsustainable the fuel surcharge must be adjusted. With the current increase ANGLEC will continue to absorb a portion of the current fuel cost to soften the impact to customers because of the difficult economic times.
The release concludes, “ANGLEC is committed to providing our customers with competitive and affordable rates and will continue to actively monitor the price of fuel for changes and cost savings.”
Manager of ANGLEC, David Gumbs says that Anguilla has a very small customer base of 8,000 and the company is financed through bills paid. He said the price of fuel is higher than it has been for the past five years and the company is currently facing a loss of some EC $350,000 each month. He said ANGLEC was competitive and its prices were not high compared to those of other utility providers in the region. He stressed the importance of the company and the need for reliability and planning. He said the focus for the future would be on renewables and that would help keep cost down for the customer.
Advice given to consumers was to disconnect any electrical items not being used, especially a television that can take up electricity when on stand-by, and also to reduce the temperature in water heaters.
Source: The Daily Herald https://www.thedailyherald.sx/islands/81725-anglec-announces-fuel-surcharge-hike