Days to Gov’t Decision on Electricity Rate Increase 

Dana Malcolm 

Staff Writer 

#TurksandCaicos, March 20, 2024 – Residents will hear in a little over a week whether their electricity bills will be permanently increased. The Turks and Caicos Islands Government has until March 30th to decide whether they will grant the requested six percent hike in electricity fees requested by FortisTCI, the country’s electricity provider.

Currently all residents who consume less than 301 KiloWatts per month pay a range of prices according to information provided.  Those in Providenciales, North Caicos & Middle Caicos pay ¢ 26 per kWh. South Caicos pays ¢ 25 and Grand Turk and Salt Cay pay ¢ 27.3 per kWh.

The most recent increase FortisTCI says it has sought in its 20-year history is 6.8 percent which was in 2020 applied to electricity bills and it affected only consumers with usage over 301 kWh.

The electricity company says the increase is necessary.

“The increase is related to the electric rate on customer bills. Over the past few years, the Turks and Caicos economy has experienced robust economic growth. This has led to increased demand for electricity. The rising demand requires expansion to the electricity system to ensure continued reliable service to our customers. This, together with high inflation and rising interest costs, are the primary reasons for the electricity rates review,” the company said.

The Government released notice of the application for increase on March 13, four weeks after the application.

They said the Energy and Utilities Department had been ‘analyzing the information provided, seeking further details that may aid in the justification of an increase and evaluating the responses.

In the midst of that application, they maintained that the six week timeline was quite tight and they would begin consultations on a policy to increase regulatory oversight of all utilities.

Days later a Cabinet approved draft policy for public sector utility regulatory reform was approved and shared with the public. That draft policy will see enhanced regulatory oversight for telecommunications, energy, sewage, water and similar utilities.

FortisTCI says the company has done what it could over the years to avoid an increase.

“FortisTCI understands the difficulties that customers can face with electricity bills. Rate increases are a concern for everyone. For this reason, the Company works hard to ensure that electric rates remain as stable as possible. Over the past 20 years, the Company has only sought a general increase in electric rates on one occasion.”

Kyle Knowles, newly appointed Minister of Public Safety and Utilities, explained the ongoing process.

“The Government will continue to press the utility company for as much information and justifications as it can before the deadline” he said; after which the Energy and Utilities Department will make a submission to the Government and TCIG will announce its decision.

Residents have remained relatively silent with many saying there needs to be a move toward renewable energy like solar power.