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HOW BVIEC SAVED CUSTOMERS OVER $13.6M IN 2025: FUEL COSTS AND SUBSIDY BEHIND BILLS DETAILED
Tortola, British Virgin Islands, January 19, 2026 — In 2025, the BVI Electricity Corporation (BVIEC) absorbed $13,676,910.26 in fuel costs on behalf of customers, averaging more than $37,400 daily to help keep electricity affordable across the Territory. These absorbed costs represent direct savings to households and businesses, often unseen, but reflected in what customers did not have to pay on their electricity bills.
Over the same period, BVIEC incurred total fuel costs exceeding $52.4 million to generate electricity for the Virgin Islands. Of this amount, approximately $38,762,924.00 was recovered through the fuel surcharge, which is applied strictly in accordance with existing legislation. The remaining balance, over $13.6 million, was absorbed by the Corporation under the long-standing fuel subsidy framework, reducing the overall impact of fuel price volatility on customers.
To better illustrate how fuel prices and electricity demand influenced costs throughout the year, BVIEC noted that July 2025 recorded the largest monthly fuel subsidy, totalling $1,474,021.80. July was also the month with the highest total fuel cost, amounting to $3,630,979, driven by an increase in fuel prices that averaged approximately $2.60 per US gallon. During that same month, residents consumed 17,367,651 kilowatt-hours (kWh) of electricity.
While July reflected the highest fuel-related costs, October 2025 marked the peak month for electricity demand, with 18,382,855 kWh sold, underscoring how sustained electricity usage continues to place pressure on fuel requirements even when fuel prices fluctuate.
Fuel price volatility remained a defining factor throughout the year. January 2025 recorded the highest average fuel price, at approximately $2.68 per US gallon, followed by February at $2.64 and November at $2.61, highlighting the ongoing impact of global fuel markets on electricity generation costs in the Territory.
“These figures represent real and meaningful savings for our customers,” said Dr. Neil Smith, General Manager of BVIEC.
“In 2025, BVIEC absorbed more than $13.6 million in fuel costs so that customers did not bear the full impact of rising global fuel prices. This support happens quietly in the background, but it plays a critical role in keeping electricity affordable across the Virgin Islands.”
Electricity rates charged to customers remain fixed by law and have not increased for several decades. As a result, any changes customers may observe on their monthly bills are not driven by rate increases, but by fuel price volatility and individual electricity usage, both of which vary from month to month.
To promote greater understanding of these factors, BVIEC launched its Fuel Data initiative, publishing monthly information on fuel costs, fuel consumption, electricity produced, and the portion of fuel costs absorbed by the Corporation.
“We continue to share this information because transparency builds trust and understanding,” said Kamal Haynes, Public Relations and Marketing Media Manager at BVIEC.
“By making our fuel data publicly available, customers can clearly see how much fuel costs, how much is passed through, and how much BVIEC absorbs on their behalf. Any fluctuations in bills are not the result of rate increases, but of global fuel price movements and usage patterns.”
Customers can view the latest Fuel Data flyer and full November–December breakdown, along with previous monthly updates, by visiting: https://bvielectricity.com/bviecs-monthly-fuel-data-november-december/
BVIEC remains committed to transparency, responsible operations, and continued engagement with customers as it navigates the realities of global fuel markets while working to keep electricity affordable for the Territory.
