The Energy Commission currently receives a monthly filing from the Bermuda Electric Light Company (BELCO) for the fuel adjustment rate. One of the duties of the Energy Commission is to approve or disallow a filing from a specified business for variations to the price or charge for electrical power submitted.
The fuel adjustment rate (cents per kilowatt hour) is calculated using the cost of fuel (which excludes a base cost of $30.00 per barrel of fuel) and projected usage.
The cost of fuel is made up of the actual cost of the fuel purchased on the international oil markets, plus transportation costs, as well as a static Government of Bermuda Customs duty of $31.79 per barrel.
As the actual cost of fuel changes on the market, the fuel adjustment rate also changes. Market fuel prices can change due to demand as well as the impact of political, economic and other factors.
The Energy Commission assesses BELCO’s monthly FAR filing and then publishes its conclusion in a decision letter.
Fuel adjustment filings and decisions
2016 fuel adjustment rates
January
/
- $0.10
February
/
- $0.10
March
/
- $0.0975
April
/
- $0.09
May
/
- $0.0765
June
/
- $0.0765
July
/
- $0.0905
August
/
- $0.0875
September
/
- $0.1050
October
/
- $0.1020
2015 fuel adjustment rates
January
/
- $0.12
February
/
- 0.12
March
/
- $0.125
April
/
- $0.125
May
/
- $0.115
June
/
- $0.115
July
/
- $0.13
August
/
- $0.13
September
/
- $0.13
October
/
- $0.125
November
/
- $0.12
December
/
- $0.1125
For filings, decisions and rates for 2011 to 2014 email; energy@gov.bm
Base rate filing
The Bermuda Electric Light Company Limited (BELCO) are also obliged under law to submit a base rate filing with the Energy Commission for any change to its rates for electricity service it provides.
A base rate filing consists of a proposal to vary the base rate which is the kilowatt hour (kWh) cost, and the tier-structured facilities charge to better reflect the actual cost of service in any given year.
Base rate filings and decisions
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File
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FileBELCO Base Rate Filing 3 June 2015 (3.22 MB)
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FileBase Rate Filing 2016 (3.61 MB)
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File
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FileBELCO's Net Metering Filing 2016/09/16 (5.99 MB)
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File