The government has paid EC$5.4 million to ANGLEC to help maintain stable electricity costs for households and businesses in Anguilla during the May billing period.
This is the second major payment to the utility company following a $3.3m contribution for April usage – together totalling $8.7m in public funds.
Premier Cora Richardson Hodge announced the latest payment during a government press conference on 15 June, confirming it had been completed the previous week.
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She said the measure aims to ensure people in Anguilla can maintain a decent standard of living, adding: “The reason why that’s important is because it creates stability in our country.”
“We want to ensure that we continue to support our most vulnerable, that we support the average resident of Anguilla, and as well our businesses and our visitors to the island,” she said.
Richardson Hodge said the recently approved supplementary budget has set aside $15.3m in contingency funding for future fuel surcharge relief for electricity customers, should circumstances require.
However, she said she hoped that ongoing geopolitical tensions may ease soon and help to reduce the cost of fuel globally, negating the need for the additional funding.
The government’s two-month relief package was announced on 30 March as a temporary measure aimed at easing rising energy costs.
ANGLEC said the government’s contribution would “help absorb a portion of the fuel surcharge cost to soften the impact on customers’ bills, even as our operational costs rise”.
Fuel surcharge more than doubled from $0.42 to $0.88 per kilowatt-hour on 1 April, then ANGLEC announced a second sharp increase from $0.88 to $1.04 per kilowatt-hour on 29 May.
All adjustments to the fuel surcharge are applied in accordance with the Electricity (Rates and Charges) Regulations.
The power company said the second adjustment was down to external factors that caused the “continued rapid rise in fuel prices globally” and would be reflected in bills sent to customers on 4 June.
“These world events have drastically impacted operational capacities for utilities including ANGLEC impacting electricity generation costs across the board,” it said in a press release.
“Despite absorbing a significant portion of increases over the years, the continued escalation in fuel expenses has made it necessary to implement an adjustment at this time.”
The Anguilla Electricity Company (ANGLEC) is a publicly traded company in which the government controls the majority of the shares.
