Providenciales, May 8, 2025 — Electricity customers across the Turks and Caicos Islands are seeing modest increases in their April power bills, with FortisTCI fuel factor rates ticking upward after months of steady decline. The move directly affects household and business energy costs in several islands, adding new pressure to budgets despite a broader trend of falling global oil prices.
Residents in South Caicos faced the steepest increase, with fuel factor rates rising 6% to $0.1758 per kilowatt hour (kWh). Providenciales, North Caicos, and Middle Caicos saw a 3% hike to $0.1550 per kWh, while rates in Grand Turk and Salt Cay edged up 2% to $0.1510 per kWh.
The adjustment follows FortisTCI’s standard billing procedure, which includes government review and confirmation through the Energy and Utilities Department. Although a permanent tax cut on fuel imports—$0.64 per gallon—took effect on April 1, it has no new impact on current fuel costs, as the reduction has been in place since 2022.
The uptick in local rates comes just as Reuters reports that global oil prices dropped to their lowest levels since February 2021. On May 5, Brent crude closed at $60.23 a barrel and U.S. West Texas Intermediate at $57.13, following OPEC+’s decision to increase output by 411,000 barrels per day in June. The organisation also signaled intentions to unwind all voluntary production cuts by October, contributing to concerns about oversupply.
Despite the global downward trend in crude prices, FortisTCI’s fuel factor remains sensitive to previous fuel purchases and market timing, meaning local consumers may not immediately benefit from global cost reductions.
Customers are encouraged to monitor their electricity bills and refer to FortisTCI’s published factsheets for detailed rate information.
