Barbadians stand to save tremendously on the cost of fuel over a ten-year period.
It has to do with the commissioning of a 5MW energy storage device.
The information was disclosed by president of the Barbados Renewable Energy Association (BREA), Aidan Rogers, during a town hall meeting on the Barbados Light & Power application to the Fair Trading Commission (FTC) at The St Michael School on Thursday night.
“The fluctuation of variability in the fuel clause adjustment, which is determined by the international price of oil, has been the major source of instability in our energy prices over the last five years . . . . Five years ago oil prices were close to $100, the fuel clause adjustment responded to that, and so it raised everyone’s electricity rates. The fuel cost is a little lower now so the fuel clause adjustment has been a bit stable. (RA)
Please read the full story in today’s Saturday Sun, or in the eNATION edition.
