Barbadian consumers and the island’s lone electricity company will have to wait longer than originally anticipated for a Fair Trading Commission decision on the continuation of a special renewable energy tariff.
The FTC announced that after initially giving the public until last Friday to share their views on the Renewable Energy Rider offered by the Barbados Light & Power since 2010, it has decided to extend the consultation period until February 15.
The RER “allows customers to sell, to the BL&P, any excess electricity generated from renewable sources”. BL&P has already submitted a report, including recommendations to implement a permanent RER.
The electricity company is recommending that the existing terms and conditions of the RER with credit of 1.8 times the Fuel Clause Adjustment be extended until the end of this year, but that a number of changes should be made from January 31 next year.
These including that the RER be implemented on a permanent basis, the credit be reduced from 1.8 times FCA to 1.6 times FCA, and that the billing arrangements for the programme be revised “so that the customer pays the utility at the appropriate tariff for all energy consumed and the utility purchases the energy produced by the renewable system(s) at 1.6 times the FCA, up to a maximum of 1.5 times the amount of energy the customer uses within the period”.
The FTC said it wanted to make sure the RER was “fair and reasonable to all participating customers”.
In the RER, which expired at the end of June this year, but has been extended until a new is approved by the FTC, Businesses and individuals benefitted from nearly $19,000 in credits. (SC)