Press Statement released by the Commerce Commission known as Fijian Competition & Consumer Commission (FCCC) on 21st October 2010.
On 24th of May, 2010, the Commission formally received an application [submission] from the Fiji Electricity Authority (hereinafter referred to as “FEA”, to implement an average 8.82 cents per unit tariff increase for electricity use. At that time, FEA’s weighted average tariff rate was 25 cents. Following a thorough examination, Commerce Commission decided to undertake a review of the tariff rates in two phases.
In the first phase, anomalies in tariff rates were to be removed, the tariff alignment resulted in an increase in the weighted average tariff rate to 33 cents.
In the second phase, a much more realistic tariff rates to be established taking into account costs of FEA, its efficiency and its ability to fund renewable energy projects as well as its ability to meet debt covenants.
The press Statement highlights:
- Fiji Electricity's Application for Tariff Raise
- Commission's Approach
- Commissions Analysis
Keywords: Electricity, Tariff Rates, Fiji Electricity Authority (FEA), Energy Fiji Limited (EFL), Commerce Commission, FCCC