In accordance with the decision issued by the Council of Ministers, the new tariffs for the electricity and water sectors have been endorsed. The Authority issued its regulations. The new approved electricity tariffs have been endorsed and include the following categories:
-Residential Tariff which includes Main account and Additional accounts
-Agricultural and Fisheries Tariff
-Cost-Reflective Tariff (excluding residential and agricultural categories)
Electricity Permitted Tariffs
Cost Reflective Tariffs (CRT)
The Council of Ministers approved the implementation of Cost Reflective Tariffs on electricity supplied to Government, Commercial and Industrial customers whose consumption exceeds 100 MWh per year, starting from 1 January 2021.
Cost Reflective Tariffs consist of four components: - hourly Energy charges referenced to published PWP Bulk Supply Tariffs (BST); - a Transmission Use of System charge (T) applied to a customer’s contribution to system peak demand; - a Distribution Use of System Charge (D) applied to each kWh transported across a licensed Distribution System to a customer’s premises; - a Supply charge (S) to recover the costs of administering a customer’s account (including meter reading, billing and collection costs).