LUCELEC AN­NOUNCES RE­DUC­TION IN FUEL SUR­CHARGE

The Star (St. Lucia) - - LOCAL -

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.

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