Beautiful Virgin Islands

Sunday, Oct 05, 2025

Residents to get 3 months of BVIEC fuel surcharge subsidies

Residents to get 3 months of BVIEC fuel surcharge subsidies

Public Works and Utilities Minister, Kye Rymer, said the National Unity Government has been listening to the cries of the people over rising electricity costs.

In that regard, the minister has announced that the government will be offering a remedy from October through to December of this year to help shoulder the burden of those expenses.

Rymer, while describing the situation as causing serious hardship on residents, said in a statement issued last evening, September 12 that the government will be instituting a subsidy to mitigate against the fuel surcharge element of the high electrical bills emanating from the government-owned BVI Electricity Corporation (BVIEC).

“In the Schedule of Additional Provisions (SAP) recently approved by the Cabinet and the House of Assembly (HOA), government has allocated some funds to help to lower residential electricity bills,” the Minister said.

“Government will be subsidising 50 percent of the fuel oil surcharge on residential electricity bills for the months of October and November 2022, and for the month of December 2022 the subsidy will be 100 percent of the fuel oil surcharge for residential electricity bills.”

The SAP was approved by Cabinet some three weeks ago and was passed by the HOA about two weeks ago.

He further explained that certain measures needed to be put in place for the subsidy’s implementation and that these have since been completed.

Rymer, in the meantime, explained that the formula for calculating electricity bills has already been set in legislation.

“Electricity bills have three major components in their calculation. First, there is a flat $2.50 per month for the service. Second, there are standard charges based on the quantity of energy consumed. The third component is the fuel oil surcharge, which is tied to the price of fuel; and oil prices have risen to record high levels since the escalation of the Russia-Ukraine conflict,” the Minister explained.

Legislators too are suffering


Rymer further noted that elected officials are also directly affected by these escalating costs.

“We, the ministers and members of the government, have also been experiencing increases in the fuel oil surcharges in our private electricity bills,” Rymer said.

The minister largely blamed the issue of rising electricity costs on the Russia-Ukraine conflict which began in February 2022 and said since the start of the COVID-19 global pandemic in March 2020, the pockets of people worldwide have been hit by the rise in the cost of goods and services.

“Practically no one has been spared and the Virgin Islands has not been exempted nor immune to these international developments,” Rymer argued.

He also expressed that these events have caused significant disruptions in the supply of food, raw materials for industry, and the availability and price of fuel on the international market.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Jeff Bezos Calls AI Surge a ‘Good’ Bubble, Urges Focus on Lasting Innovation
Japan’s Ruling Party Chooses Sanae Takaichi, Clearing Path to First Female Prime Minister
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Taylor Swift’s ‘Showgirl’ Launch Extends Billion-Dollar Empire
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
FBI Removes Agents Who Kneeled at 2020 Protest, Citing Breach of Professional Conduct
Trump Alleges ‘Triple Sabotage’ at United Nations After Escalator and Teleprompter Failures
Shock in France: 5 Years in Prison for Former President Nicolas Sarkozy
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
BNP Paribas Abandons Ban on 'Controversial Weapons' Financing Amid Europe’s Defence Push
Typhoon Ragasa Leaves Trail of Destruction Across East Asia Before Making Landfall in China
The Personality Rights Challenge in India’s AI Era
Big Banks Rebuild in Hong Kong as Deal Volume Surges
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Arnault Denounces Proposed Wealth Tax as Threat to French Economy
Study Finds No Safe Level of Alcohol for Dementia Risk
Denmark Investigates Drone Incursion, Does Not Rule Out Russian Involvement
Lilly CEO Warns UK Is ‘Worst Country in Europe’ for Drug Prices, Pulls Back Investment
Nigel Farage Emerges as Central Force in British Politics with Reform UK Surge
Disney Reinstates ‘Jimmy Kimmel Live!’ after Six-Day Suspension over Charlie Kirk Comments
U.S. Prosecutors Move to Break Up Google’s Advertising Monopoly
Nvidia Pledges Up to $100 Billion Investment in OpenAI to Power Massive AI Data Center Build-Out
U.S. Signals ‘Large and Forceful’ Support for Argentina Amid Market Turmoil
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
Vietnam Faces Up to $25 Billion Export Loss as U.S. Tariffs Bite
Europe Signals Stronger Support for Taiwan at Major Taipei Defence Show
×