Barbados has the third most burdensome electricity cost in the region, the new Caribbean Energy Price Index has estimated.
This follows an analysis of the average nominal price of electricity relative to the cost of living, including food prices and taxes, to determine how affordable electricity is.
Published by Caribbean economist and adviser Marla Dukharan and renewable energy entity SOL Ecolution, a subsidiary of The SOL Group, the index is being called the first comprehensive benchmark of electricity prices across the Caribbean.
“Despite Barbados having a mid-range electricity price that resembles the Caribbean average, to the consumer, Barbados has the third most burdensome electricity cost in the region based on other factors which drive the cost of living up and purchasing power down, such as food prices, taxes [and so on],” Dukharan and SOL Ecolution explained.
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