Electricity costs for consumers are not likely to be impacted immediately by yesterday’s drop in the price of petroleum products, says the island’s lone power supplier, the Barbados Light & Power Company Ltd (BL&P).
BL&P’s chief marketing officer Stephen Worme told the DAILY NATION yesterday that while the retail price of diesel – which is used to produce a mere 14 per cent of the energy needed to serve the island – had dropped by seven cents per litre, it was unlikely to show up on Barbadians’ electricity bills.
Yesterday, gasoline dropped from $3.36 to $3.25 per litre, and diesel went from $2.85 to $2.78 per litre.
Worme said, however, that if the price of bunker C fuel, which is the main source of energy for electricity production – some 80 per cent – drops as well, the impact would be more significant. He added that the price of bunker C did not always move simultaneously with the costs of diesel because the price of diesel was controlled by Government whereas that of Bunker C and other fuel used by BL&P was not.
Read the full story in today’s DAILY NATION.