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.
REVERSAL OF WHARFAGE FEE
The BVI Electricity Corporation is pleased to issue an update to the Press Release to its valued customers dated May 18 2021 as follows:
The BVIEC has been working assiduously with the Premier of the Virgin Islands and BVI Ports Authority to progress an exemption from the British Virgin Islands Ports Authority (Amendment) Regulations, 2021 which states in part that “Wharfage as set out in paragraph (b) of Item E of the Third Schedule shall be charged on petroleum products discharged through ships pipeline direct to private facility of cargo owners” and “$0.10 per gallon on petroleum products discharged through ships direct to private facility of cargo owners.”
Great progress has been made as the Premier in his exercise of powers has advised that BVIEC will be exempted effective immediately from this Regulation. As such, customers’ June bills will reflect a reversal of this wharfage fee.
BVIEC remains committed to delivering an exceptional customer experience