Premier hints BVIEC subsidy may end soon, urges go-green route

The government’s subsidy on the ‘fuel surcharge’ component of consumers’ electricity bills may soon come to an end.

This was the indication given by Premier Dr Natalio Wheatley at a recent press conference over whether his government will continue to subsidise the high electricity rates beyond the end of this year.

The government agreed to offer a subsidy on the electricity bills for residents – 50 percent for the months of October and November and another 100 percent for December – after months of complaints over escalating bills.

It has also consistently been argued by the government that the high cost of fuel has played a significant role in the rising cost of electricity locally.

“I know that people all over the world are experiencing high prices, but certainly I would love to see the price of the electricity be lowered because, of course, it’s only so much subsidisation you’ll be able to do,” Premier Wheatley said.

In the meantime, Dr Wheatley said a continuation of the subsidy for residents will depend on available resources. He further advised that people should instead consider going into the alternative energy market.

“We’ll have to examine (whether to continue the electricity subsidy) moving forward based on the resources that we have available, but certainly I think we have to get very aggressive about going into alternative energy because, of course, we couldn’t afford to subsidise throughout the whole year, for instance,” Dr Wheatley stated.

The Premier argued that the fluctuating price of fuel is one of the justifications for going into alternative energy and added that renewable energy sources such as the sun and wind are free and should be utilised properly.

“We’d be able to provide a little bit more resilience into our energy sector, we provide a little bit more stability, a little bit more predictability, and I think this is the way that we all have to go,” he said.