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No
Business, News
 on September 13, 2011

No ease

Article by RICKY JORDAN 

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.

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