Light & Power: Expect higher April fuel costs due to impact of global oil prices

The Barbados Light & Power Company (BLPC) advises that dramatically increasing global oil prices will have a notable impact on the April 2022 Fuel Clause Adjustment (FCA).

The FCA component of customers’ bills is a variable cost and is directly influenced by the cost of oil on the global market. Fuel cost is passed directly to consumers as incurred.

“The FCA for the month of April 2022 is approximately 45 cents per kilowatt-hour, an increase of 22 per cent over March,” said Johann Greaves, Director Operations at BLPC. “The volatility and uncertainty of global markets have impacted all Barbadians, resulting in this notable rise in the price we pay for fuel to generate electricity, as well as in the cost of oil products such as petrol and diesel at the pumps, and everyday goods that must be transported to our stores and markets.”

Light & Power advises that customer bills issued this month will be affected by this 22 per cent rise in the fuel portion of customers’ bills and will result in a notable impact on monthly electricity costs.

“We know that these are significant and impactful changes month over month, and we also know that the cost of fuel may continue to be high for the foreseeable future,” continued Mr. Greaves. “Light & Power urges customers to use electricity wisely. We also want to assure customers that we are unwavering in our commitment to transitioning from fossil fuel-based generation toward renewable energy sources. Easing our reliance on foreign oil will enable us to bring greater stability and predictability of energy costs to customers.

“We implore customers to consider small changes that will have an immediate impact on energy costs, such as switching to LED lighting, unplugging unused electronics to minimise standby power, and prudently managing air conditioning use. Every little effort matters,” Greaves stressed.