Regulated Industries Commission Proposes 15-64% Increase In Electricity Rates
Residential property owners or occupiers will be required to pay between 15% and 64% more on their home electricity bill in the near future, based on their level of consumption.
The Regulated Industries Commission (RIC) has recommended an across the board increase in electricity rates and service charges for Trinidad and Tobago Electricity Commission (T&TEC) customers, including residential, commercial and industrial customers.
Based on the kWh consumption, at tier one, customers will pay a tariff of $0.28 per kWh (previously $0.26); at tier two, customers will pay $0.40 per kWh (previously $0.32); at tier three, $0.54 per kWh (previously $0.37); and at tier four, customers will pay $0.68 per kWh.
The RIC has also recommended that customers be billed on a monthly cycle instead of the existing bi-monthly cycle.
Below is a rough estimate of how the changes will impact customers:
Additionally, the fixed customer charge on bills will increase from a maximum of $6 every two months to $7.50 monthly.
T&TEC will be required to give the public at least 21 days’ notice before moving ahead with implementing increased electricity rates.
Chairman of the Regulated Industries Commission, Dawn Callender, says while the RIC has completed its final determination as it relates to the introduction of increased electricity rates, however the board of T&TEC will be responsible for deciding how and when the new rates will be implemented.