Barbadians paid slightly more for electricity last month, owing to an increase in the Fuel Clause Adjustment (FCA).
While the FCA rate remains low compared to prior years when it reached a high as 47 cents per kilowatt-hour (KWh), it jumped to 28.6051 cents per/KWh in May, up from the 27.4759 cents/KWh a month prior.
For the months of February and March, the FCA, which fluctuates with oil prices, was 28.7500 cents/KWh.
It was not immediately clear how the FCA would impact this month’s FCA, a mechanism used by Barbados Light & Power Company (BL&P), the former monopoly provider, to recover cost of fuel oil used in the generation of electricity. It adjusts the price that customers pay for each KWh of electricity since the cost of fuel used to generate electricity rises and falls.