Customers of St. Vincent Electricity Services Limited (VINLEC) will see a significant decrease in the fuel surcharge rate applicable on bills for July 2020.
VINLEC said this month’s rate is 21.12 cents per unit, the lowest in the past four years.
A rate of 21.01 cents per unit was applicable on bills issued in March 2016, the company said.
The July 2020 fuel surcharge rate represents a decrease of 21.86% over the June rate, which stood at 27.03 cents per unit.
Similar fuel surcharge rates in the range of 20 cents per unit prior to 2016 was during the year 2009, the company said.
The fuel surcharge rate covers the cost of the fuel required to produce units of electricity.
“VINLEC encourages customers to continue to use energy wisely. The company remains committed to providing a safe and reliable supply of electricity of the best quality and value,” the company said.