BELCO To Reduce Electricity Retail Rates

 BELCO To Reduce Electricity Retail Rates

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 today, “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.”

The Ministry of Home Affairs wishes to remind the public that each of us has a role to play in stopping the spread of the coronavirus. Follow Public Health guidelines, wear a mask, practice good hand hygiene, maintain physical distance and download the WeHealth Bermuda app. Do the research, talk with your doctor, and make an informed decision about getting the COVID-19 vaccine.
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Trevor Lindsay

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