The Cabinet of the Virgin Islands has approved nearly $500,000 to fund the government’s coverage of fuel surcharge on all residential electricity bills during the month of December.
The Ministry of Communication and Works announced the special initiative in December 2023, revealing the government’s plan to cover 50 percent of the fuel surcharge associated with the electricity bills for residential customers during that month.
A post-Cabinet Meeting Statement from a session held on December 28, 2023, revealed that the sum of $492,000 was approved to be paid to the BVI Electricity Corporation (BVIEC) for the subsidy fees.
Should the total when calculated this month exceed the approved amount, the Cabinet put measures in place to cover all additional expenses. Likewise, should the total value of the subsidy be less than the approved value, the BVI Electricity Corporation will reimburse the difference.
Residents were not required to apply or submit documentation to qualify for the initiative as all payments will be made by the Government of the Virgin Islands to the BVIEC automatically.