BVIEC reports 24% reduction in electricity costs for recent billing cycles

LONG BUSH, Tortola, VI- The British Virgin Islands Electricity Corporation (BVIEC) Financial Controller, Mr Florencio Taray, has addressed frequently asked questions from the public regarding the revised, transparent electricity bill that came into effect in April 2025.

The new transparent electricity bill was introduced to enhance clarity and customer understanding, particularly concerning fuel costs. It provides a detailed breakdown of how electricity charges are calculated, including specifics on fuel-related expenses.

A significant feature of the bill is the itemisation of the BVIEC fuel subsidy, which reflects the corporation's efforts to offset fuel charges for customers.

BVIEC has passed decrease in fuel costs to customers- Florencio Taray

During BVIEC's latest educational mini-series episode, which aired on the company’s Facebook page on June 20, 2025, Mr Florencio explained that global oil prices have been declining recently. As a result, BVIEC has passed this decrease in fuel costs on to its customers.

He noted that fuel rates have dropped from 16 cents to 12.5 cents over the past year, resulting in an approximate 24 percent decrease during the recent billing cycle.

He addressed a common question about how fluctuations in global fuel prices are reflected in billing history—when fuel prices decrease, the fuel surcharge decreases, and when they rise, the surcharge adjusts accordingly.