From:TheBahamasWeekly.com
"Oil Prices Are Falling But No Change In Grand Bahama Power \ Emera Fuel Surcharges"
By Coalition for Concerned Citizens
Dec 18, 2014 - 6:28:29 PM
Members of Coalition for Concerned Citizens. From left to right Rudy Stubbs - Customs & Immigration Union, David Jones- G.B. Taxi Union, Pastor Eddie Victor - CCC Converner.
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Freeport, Bahamas - The following is a press statement from the Coalition for Concerned Citizens who held a press conference today in Grand Bahama:
Over the past six months Oil
prices have been falling globally. According to the Nasdaq, Oil prices for a
barrel of crude oil as at today
December 18, 2014 is $ 62.74 per Barrel. This
is the lowest it has been in the past 5 years and oil prices are anticipated to
drop lower. Oil price began a significant
steady decline during the month July 2014. Oil prices went from approximately
112 dollars per barrel in July 2014 to a decrease of $ 62.74 per barrel as of
today’s date. This represents a decrease of 43% as compared to July 2014 prices.
Despite this tremendous
decrease in Crude Oil prices, Grand Bahama Power Company \ Emera has not
reduced the fuel surcharges to their residential and commercial customers. In
reviewing the fuel surcharges as at shown on the Power Company’s website, in
July 2014 the fuel surcharge was 14.41 cent per kilowatt hour and this month
the fuel surcharges are 15.95 cent per kilowatt hour. This represents an actual
increase of 11% as compared to July 2014. While prices are going down,
GBPC\Emera increased the fuel surcharge by 11% when compared to July 2014. A reduction of 1 cent in fuel surcharges based
on an actual residential account for November 2014 with usage of 582 kilo hours
would mean a saving $ 5.79 per month.
All this information is
available on Nasdaq.com on link below
http://www.nasdaq.com/markets/
crude-oil-brent.aspx?
timeframe=6m
Also on the Grand Bahama
Power Company / Emera Website:
The Coalition of Concerned Citizens is calling for the immediate
reduction in the fuel surcharges rate to fall in line with the reduction of Global
Oil prices. Also, we call for the any required rebates to be applied immediately
to all customers’ accounts of GBPC \ Emera.
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