For Immediate Release
1st October 2024
Fuel Surcharge Adjustment Notice
Effective as of 1st October, 2024, The Anguilla Electricity Company Ltd. (ANGLEC) advises that the Fuel Surcharge will be adjusted from $0.60 per kWh to $0.42 per kWh. Customers will see the adjustment reflected effective with the upcoming billing cycle starting on October 3rd, 2024. This is an additional decrease of approximately 15% following the last reduction in April of 2023.
Kindly note that the new rate of $0.42 is below what is prescribed under the legislation. All adjustments to the Fuel Surcharge are applied in accordance with the Electricity (Rates and Charges) Regulations issued by The Government Of Anguilla.
Legislation calculation of the Fuel Surcharge Adjustment
Legislation regulates that ANGLEC charge 0.01 cent per kWh for every 0.10 cents increase in fuel cost after $3.64 per imperial Gallon (IG). This mechanism allows ANGLEC to recover the cost of fuel over time with consideration for the fluctuating fuel prices. With the impending adjustment, ANGLEC is still absorbing a significant portion of the current fuel costs to soften the impact on customers in these difficult economic times. More information on the legislation can be found on the official Government website.
Adjustment Background
The Fuel Surcharge that ANGLEC passes on to consumers is directly related to the price of fuel purchased by ANGLEC to run its generators and provide electricity to Anguilla, it is not a means of creating additional revenue. Despite continued volatility in fuel prices, ANGLEC has not passed on any additional charges to customers. This decrease is made with consideration to both market rates and the company’s desire to ensure customers are supported in effective cost management during the unprecedented financial challenges affecting us all.
Recently however, there has been a gradual decline in the cost of fuel on the world market, and while the Fuel Surcharge should remain at or around EC$0.60, based on the regulated formula, ANGLEC has decided to reduce it from EC$0.60 to EC$0.42.
Customer Assistance
At ANGLEC we understand that financial hardship can occur at any time, especially during the current climate which is why we are slow to issue increased adjustments. However, even when these decisions must be made we offer a plethora of assistance programs for customers in need. If you or someone you know may need help, we advise you to take advantage of our payment plans and deferment programs.
Throughout all rate adjustments, we encourage our customers to employ energy conservation methods and to be proactive in all matters regarding their energy bills. For further information and assistance, please contact our Customer Care Unit via 1 (264) 497- 5200.
