Cost of electricity to increase with new wharfage fee on fuel — BVIEC
Residents are being advised that the cost of electricity is expected to increase effective this month.
The BVI Electricity Corporation (BVIEC) said in a statement on Tuesday that this increase is because of a recent amendment to the BVI Port Authority Regulations.
The amendment, which became law on April 15, provides for a wharfage fee to be charged on petroleum products discharged through a ship’s pipeline direct to the private facility of cargo owners.
The amendment further specifies that this wharfage fee will come at a cost of “$0.10 per gallon”.
In other words, for ever thousand gallons of fuel discharged, there will be a $100 cost for wharfage attached. The BVIEC imports approximately a million gallons of fuel with each shipment.
“Due to the imposition of this new law, all customers’ electricity bills from May 2021, and going forward, will include this increase in the cost of fuel to produce electricity in the ‘Fuel Surcharge’ section of your electricity bills,” the BVIEC stated.