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 RECEIVES 254K EU GRANT FOR BUSINESS CONTINUITY SUPPORT
BVIEC Receives €254K EU Grant for Business Continuity Support
ROAD TOWN, Tortola, VI – The British Virgin Islands Electricity Corporation (BVIEC), under the COVID-19 Resilience Response Facility of the Resilience, Sustainable Energy and Marine Biodiversity (RESEMBID) Programme, has been awarded a grant funding representing €245,481 (EUR) from the European Union (EU) to pursue the project ‘BVIEC COVID-19 Business Continuity Support’.
A press release from BVIEC today, September 29, 2022, stated that the corporation will utilise the funds to embark on a pilot project to improve its capacity to maintain operations during pandemics or extreme and recurrent disasters.
Programmed funded by EU
“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),” the release stated.
Countries include Aruba, Anguilla, Bonaire, British Virgin Islands, the Cayman Islands, Curaçao, Montserrat, Saba, Sint Eustatius, Saint Barthélemy, Sint Maarten and Turks and Caicos and 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.
“The COVID-19 Pandemic and the extensive damage caused by hurricanes Irma and Maria have shown how vulnerable normal operations are to disruptions, particularly in the electricity generation and distribution industry. This initiative will strengthen the operations and increase the resiliency of the BVI Electricity Corporation to respond and adapt to the disruptions mentioned in order to maintain the standard of living for the residents of the territory,” the press release detailed.
Additionally, the project will improve BVIEC’s ability to maintain communication with supporting entities and more efficiently coordinate the restoration of the electrical supply during or after disruptions.
According to BVIEC, the project falls under the BVI Electricity Corporation Act of 1978, Section V, 31, where through the introduction of Information and Communication Technologies, the staff of the BVIEC is now better equipped to respond to customers’ requests in a timely manner.
More changes to come @ BVIEC
“Along with new policies and procedures, these changes will provide the foundation to guide both the employees and residents of the territory during the disruptions mentioned and The Corporation takes the opportunity to inform our valuable customers that our intention is always to improve our engagement with you.
“Along with our other online services, we will provide customers with added convenience in the form of a reduced need to visit our offices to request specific services or report issues,” the press release informed.
BVIEC has assured its customers that they will see changes in the coming few months and are advised to stay tuned for further updates regarding BVIEC’s efforts toward Resilience and Sustainable Energy.
References
BVIEC receives €254k EU grant for Business Continuity Support. BVIEC receives €254K EU grant for business continuity support | Virgin Islands News Online. (n.d.). Retrieved December 8, 2022, from https://www.virginislandsnewsonline.com/en/news/bviec-receives-254k-eu-grant-for-business-continuity-support
