By Prior Beharry
MOST residential customers will see an increase in their electricity bill between 15% to 22% when the new rates recommended by the Regulated Industries Commission (RIC) come into effect.
This according to Chairman of the RIC Dawn Callender at the announcement of the RIC’s Final Determination for electricity rates for the years 2023 to 2027 at the Hilton Trinidad and Thursday.
She said the RIC’s Final Determination will take effect from November 1 and the Trinidad and Tobago Electricity Commission (T&TEC) will have to publish in at least one daily newspaper 21 days before any rate increase is implemented.
RIC’s Executive Director Dr Michelle Salandy said T&TEC will also be introducing monthly billing from bi-monthly.
Callender said, “The new rates will be between 15% and 64% if you are a very heavy user.”
She said, “For most persons we expect they will fall between 15% and 22%.”
Tariffs for 2023-2024
| Rate Class | Energy Charge ($/kWh) | Customer Charge ($) | Demand Charge ($/KVA) | |
| Residential (Monthly) kWh Range |
7.50
|
NA |
||
| 0 | 200 | 0.28 | ||
| 201 | 700 | 0.40 | ||
| 701 | 1400 | 0.54 | ||
| >1400 | 0.68 | |||
| Commercial (Monthly) | NA | |||
| B1 | 0.56 | 35.00 | ||
| B2 | 0.67 | 35.00 | ||
| Industrial (Monthly) | ||||
| C1 | 0.6269 | 50.00 | 93.00 | |
| C2 | 0.5858 | 50.00 | 93.00 | |
| C3 | 0.5487 | 50.00 | 93.00 | |
| C4 | 0.5114 | 50.00 | 93.00 | |
| D1 | 0.3145 | 50.00 | 79.00 | |
| D2 | 0.3508 | 50.00 | 80.45 | |
| D3 | 0.3126 | 50.00 | 72.00 | |
| D4 | 0.2723 | 50.00 | 65.20 | |
| D5 | 0.2608 | 50.00 | 60.31 | |
| E1 | 0.3306 | 100.00 | 97.01 | |
| E2 | 0.3306 | 100.00 | 95.04 | |
| E3 | 0.3306 | 100.00 | 93.74 | |
| E4 | 0.3306 | 100.00 | 92.40 | |
| E5 | 0.3306 | 100.00 | 91.43 | |
| Public Lighting (Monthly) | ||||
| Street Lights | 82.50 | |||
| Traffic Lights | 71.50 | |||
| Recreation Grounds | 306.50 | |||
Callender explained that these new rates represent the maximum that could be charged by T&TEC for 2023.
She said, “Annual Tariff Adjustment Exercises will be conducted for the remaining years of the price control period (2024 to 2027).
“These annual exercises will consider T&TEC’s compliance with the pricing principles set in the RIC’s Final Determination, its overall financial performance to determine if new rates should be applicable.”
