The St. Vincent Electricity Services Limited, VINLCE says its customers will see a decrease in the Fuel Surcharge Rate applicable for December bills for 2014.
A release from VINLEC says the Fuel Surcharge Rate applicable on December bills is 40.65 cents per unit. This figure represents a decrease of 12.12 cents from last month’s figure, which was 52.77 cents per unit.
VINLEC says the decrease in the Fuel Surcharge rate is primarily as a result of the decrease in the price of oil on the international market. The average cost of fuel for the month of November was $9.02 per gallon, compared to $9.64 the previous month.
According to VINLEC, the Fuel Surcharge rate is calculated using the consumption from the previous month. In addition, the output from the Company’s hydro stations at Cumberland and Richmond accounted for 21% of the total amount of electricity generated.
VINLEC said, through this renewable energy source, the company utilized less fuel for the generation of electricity. It said these two factors combined have resulted in the decrease in the Fuel Surcharge Rate this month.
