Fuel Surcharge Drops To An All Time Low In SVG

The St. Vincent Electricity Services Limited, (VINLEC) is reporting another record low fuel surcharge rate for the month of February.

A release from VINLEC says customers are continuing to benefit from falling oil prices on the world market. It says the company is recording a Fuel Surcharge Rate in the amount of 18.48 cents per unit for the month of February.

VINLEC adds that this month’s rate represents a decline of 2.23 cents per unit, or 11% from the January figure. It also says that the Fuel Surcharge rate applicable on bills this month has fallen by 29% from February 2015.

According to VINLEC, over the sixteen months, the Fuel Surcharge on VINLEC’s electricity bills has been on the decline, primarily, because of the downward trend in fuel prices on the world market. VINLEC says these savings have been passed on to customers, as reflected on electricity bills.

VINLEC says a similar rate in the range of 18 cents per unit was applied on electricity bills twice, in May and June of 2003, some thirteen years ago.