Fossil fuel prices are likely to rise due to increased summer demand, OPEC's extended supply cuts, and a potential Federal Reserve rate cut affecting the USD. These factors impact electricity bills, but BVIEC is committed to monitoring markets and mitigating price fluctuations.
BVIEC COVID-19 Business Continuity Support Project
About the Project
Through the introduction of Information and Communication Technologies and new policies and procedures, the BVIEC will strengthen its operations and increase its resiliency to respond to customers and adapt to the effects of disruptions such as pandemics, hurricanes, and earthquakes. The Business Continuity Support initiative will provide the foundation to guide both the employees and residents in order to maintain the standard of living of the territory. Additionally, it will improve our ability to maintain communication with supporting entities and more efficiently coordinate restoration of the electrical supply during or after the disruptions mentioned.
The British Virgin Islands Electricity Corporation, under the COVID19 Resilience Response Facility of the Resilience, Sustainable Energy and Marine Biodiversity (RESEMBID) Programme, has been awarded 245,481 EUR in grant funding from the European Union to pursue the project “BVIEC COVID-19 Business Continuity Support, “. The Corporation will utilize these funds to embark on a pilot project to improve its capacity to maintain operations during pandemics or extreme and recurrent disasters.
RESEMBID is funded by the European Union and implemented by Expertise France – the development cooperation agency of the Government of France and supports sustainable human development efforts in 12 Caribbean Overseas Countries and Territories (OCTs) – Aruba, Anguilla, Bonaire, British Virgin Islands, the Cayman Islands, Curaçao, Montserrat, Saba, Sint Eustatius, Saint Barthélemy, Sint Maarten and Turks and Caicos. The overall objective of RESEMBID, is to support the sustainable human development efforts of participating countries and territories, with the thematic priorities being: Resilience, Sustainable Energy and Marine Biodiversity.
Questions related to the initiative can be addressed via email to: bviecce@bvielectricity.com
You can download our BVIEC COVID-19 Business Continuity Support Project brochure here.