Maldives hikes electricity fuel surcharge by 8 laari

STELCO building in the capital Male. MIHAARU PHOTO

STELCO building in the capital Male. MIHAARU PHOTO

State Electric Company (STELCO) has hiked the fuel surcharge by eight laari (MVR 0.08) per unit of electricity in its second amendment to fuel surcharges after the electricity rates were changed in February this year.

The company had been charging four laari per unit of electricity since September 19. However, the rate was amended on November 16 to 12 laari (MVR 0.12) per unit due to increase in diesel prices.

According to STELCO’s statistics, it had purchased a diesel litre at MVR 8.40 since November 16. If the diesel rate per litre exceeds MVR 8, the energy authority had sanctioned STELCO to levy three laari from every additional 10 laari.

STELCO’s purchase of diesel had increased from MVR 7.05 per litre in February to MVR 7.50 in April and MVR 7.97 in June. If the current fuel surcharge tariffs are maintained, an additional MVR 100 will be charged from electricity bills that amount MVR 1000.

The government had reversed the tariff hike for households in January in the wake of a public outcry. The president had vowed then to further lower the electricity rates as the tariffs were still considered too high. However, there have been no slashes in electricity rates ever since.

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