Hamilton,
Bermuda
Bermuda Electric Light Company Limited (BELCO) today advised that following an approvals process by the Regulatory Authority of Bermuda, electricity tariffs will change for all meters read on or after January 1, 2025.
While base rates will see an increase, the Fuel Adjustment Rate (FAR) will decrease in January, resulting in an overall decrease for the average residential customer. The breakdown of the new tariffs can be found on BELCO’s website at belco.bm.
For a low-usage residential household whose consumption is 200-kilowatt hours per meter reading cycle, there will be a decrease of approximately -$2.55 to a monthly bill (after discount).
For the average residential household whose consumption is 650-kilowatt hours per meter reading cycle, where the majority of Bermuda residential customers fall, there will be a decrease of approximately -$6.55 to a monthly bill (after discount).
For a high-usage residential household whose consumption is 1,500-kilowatt hours per meter reading cycle, there will be a decrease of approximately -$1.75 to a monthly bill (after discount).
Managing Director, Transmission, Distribution & Retail (TD&R) Shelly Leman said: “BELCO remains committed to ensuring that we can reliably meet the energy demands of our customers while laying the foundation for transitioning to a sustainable energy future. BELCO offers a number of energy efficiency tips to customers who would like to take more control over their energy usage in order to help lower their bills. Any action taken to reduce energy consumption can help to alleviate the impact on your overall monthly bill.”
BELCO customers can learn more about their bill as well as tips on energy efficiency and ways to reduce their bill at belco.bm.