LUCELEC ANNOUNCES REDUCTION IN FUEL SURCHARGE
The St. Lucia Electricity Services Limited (LUCELEC) says its customers will see a nearly 11% reduction in what they pay for electricity this month.
The power company says the fuel surcharge applied to bills being distributed in November will result in a reduction of 13.7 cents per unit. This reflects the lower average price the company paid for fuel in October as a result of lower fuel price hedges that the company has in place for the last quarter of the year.
LUCELEC’s Managing Director, Trevor Louisy, says that the company had indicated earlier this year in discussions with various stakeholder groups that these reductions could be expected in the latter part of this year.
LUCELEC is constantly evaluating its fuel price hedging programme and is satisfied that the programme has been to the net benefit of customers in protecting them from oil price shocks.