Wednesday , February 28 2024

Saba Electric Company increases electricity tariff

In accordance with the Electricity and Drinking Water BES Law, Saba Elec­tric Company NV (SEC) will increase its variable dis­tribution tariff. This new tar­iff and the applicable rates will be effectuated as per July 1, for the second half of 2018. The variable tariff will increase from US $0.3208 per kilowatt hour (kWh) to $0.3617 per kWh.

Each year, Authority for Consumer and Markets (ACM) calculates the maximum variable tariffs, which go into effect per January 1. However, if fuel prices change significantly throughout the year, as is the case for this year, ACM can modify the variable tar­iff, effective July 1.

SEC management, how­ever, decided to not apply the maximum variable tar­iff as calculated by ACM at $0.3735 per kWh for the second half of 2018. Instead, the maximum variable tariff of $0.3617 per kWh that was calculated for effectuation on January 1 will be applied. In January, a decision was made to postpone the implementation of the maximum tariff of $0.3617 because of the impact the higher tariffs would have on Saba’s still-recovering economy from the 2017 hurricanes and the uncertainty about the 2018 subsidy that SEC and its customers receive from the Dutch Ministry of Economic Affairs and Climate.

However, due to increas­ing operational cost result­ing from the rising cost of fuel, which has increased by 25 per cent, these tariffs will now go into effect, SEC stated Friday.

The Daily Herald.

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