Electricity tariff for all sectors increases by 15 cents |04 July 2023
- Applicable for the period July to September 2023
The Seychelles Energy Commission and the Public Utilities Corporation have announced that there will be a 15-cent increase in electricity tariff for all sectors for the third quarter of 2023.
The weighted average fuel price charged to the Public Utilities Corporation (PUC) by the Seychelles Petroleum Company (Seypec) over the second quarter of 2023 (April - June) has increased by 54 cents per litre which equates to a 15-cent increase per unit of electricity or kWh.
This increase is due to a rise in the cost of heavy fuel oil (HFO) observed during Q2 of 2023 which reflects the rise of oil price on the global market.
The increase is due to the ongoing conflict between Russia and Ukraine but more specifically with the clash between Russia and the mercenary group that has raised fear of oil supply disruption and the recent decision by OPEC+ to tighten supply and reduce output.
Speaking at a press conference yesterday at Electricity House, PUC’s chief executive, Joel Valmont, explained that if a consumer uses 400 units with a monthly electricity bill of R745, with the increased tariff they will see an increase of R60. Commercial businesses will see a 3% increase on their bill each month if they consume as they usually do.
He explained that the decision to increase tariff is taken under consultation and discussion by three main entities – the government through the minister, Seychelles Energy Commission (Sec) and PUC.
“The tariff is principally approved by the Sec. PUC normally does the calculations and prepare the necessary documents to assess the situation with the changes occurring,” he explained.
The Sec, together with its partners, will continue to monitor the situation.
The next review of electricity tariff based on fuel price will be announced towards the end of September 2023.