NIA injects millions into NEVLEC to provide consumers with relief on electricity fuel surcharge

Source: SKNVibes
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The Nevis Island Administration (NIA) has committed to a monthly subvention to the Nevis Electricity Company Limited (NEVLEC) in order to cap the increasing fuel surcharge on electricity bills, in an effort to bring relief to consumers on the island.

Premier Hon. Mark Brantley made the announcement recently, noting that the government is aware of complaints made by citizens and residents on Nevis about the high cost of electricity. Pointing out that the increase in fuel surcharge on NEVLEC electricity bills is a direct result of the rising cost of fuel globally, the Premier nevertheless apologized to the people of Nevis for the financial pressure they are experiencing because of this.

“To put it in context for you, the average price of fuel has moved from $7.98 per gallon in January 2022 to $14.68 per gallon in June 2022. So in just that six-month period the price has increased almost 100 percent in terms of fuel. So it is an untenable situation, and whilst that war in Ukraine continues we do not see any immediate fix to this problem…

“We are committing to NEVLEC $1.75 million per month specifically to try and cushion this shock that NEVLEC itself is experiencing, and so as a result, we are capping the fuel surcharge at 65 cents, and that is significant because as of [July 28] NEVLEC is advising that the actual fuel surcharge is 90 cents. So we are trying to cap it at 65 cents by the government injecting $1.75 million per month into NEVLEC in order for it to pass on that relief to customers.”

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