| Residents, most businesses spared Fortis rate hike | | Print | |
| Written by Richard Green/richard@fptci.com | |||
| Friday, 02 March 2012 11:38 | |||
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FortisTCI has been denied a request to increase electricity rates for residents and most businesses, while large hotels will see a 26-percent increase April 1. His Excellency the Gov. Ric Todd and the Electricity Commissioner Malike Cummings granted FortisTCI’s request to extend service to the smaller cays between Providenciales and North Caicos, East Caicos and South Caicos. Residential rates on South Caicos will fall from 31.6 cents to 28 cents per kilowatt hour, and by next year will be the same 26 cents that other FortisTCI residential customers pay. At that time, commercial rates on South Caicos will be further reduced from 28 cents to 27 cents. “I have listened to the feedback of the people of the Turks and Caicos Islands who have made it clear to me that an increase in their utility charges will not be welcomed as they continue to adjust to the new taxation measures introduced late last year,” the governor said Feb. 28 in announcing the decision. Electricity price rises will be limited to large hotels, defined as those using more than 4.2 million kilowatt hours per year. Their rates will increase from 17 cents to 21.5 cents per kilowatt hour. Medium hotels will be reclassified as those consuming more than 300,000 kilowatt hours per year. Neither the government nor FortisTCI would say which or how many large hotels would be hit by the rate hike. “The interest and fairness of all electricty customers in our service territory were always our main concern,” said Eddinton Powell, CEO and president of FortisTCI. “FortisTCI believes that given all the information before the governor, His Excellency made the best possible decision.”
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