As a Government elected with a mandate to improve the quality of Bermudian’s lives and to drive down the cost of living, we are pleased that the Regulatory Authority has today assisted in the delivery of one aspect of our agenda; driving down the cost of electricity via the slashing of Electricity Retail Tariffs.
From day one, the Government has refused to support a raise of BELCO retail rates and sought ways to drive power costs down. Now, relief is on the way.
This Tariff Cut will pass on savings to each of us and means that Bermudian families and Bermudian businesses will pay out less of our hard earned dollars on our monthly electricity bill. This means more money in Bermudian’s pockets and offers a measure of relief to our business sector.
This modest relief is in line with what we were elected to do and represents a small step forward in our mission to ease the burden on Bermudians, reduce the cost of doing business in Bermuda and in helping to drive down the high cost of living in our country.