GEBE announces a
10 per cent reduction
St. Maarten--As local utility company GEBE recorded good financial figures for the first half of 2006, the company has announced that consumers will see a 10 per cent reduction in electricity bills as of today.
According to a press release issued by the company, the preliminary un-audited financial figures for GEBE’s operation for the first half of the year demonstrate “good performance” as a result of the implementation of the company’s business plan and taking into account the skyrocketing fuel prices on the world market.
“To give an indication of the effect of the price of fuel, we must mention that despite the measures taken to operate the power plant on a cheaper heavy fuel and the deployment of the most fuel-efficient production units, the cost of fuel alone to produce one kilowatt-hour (KWh) of electricity is still more than all other operational cost added together,” the release stated.
The business plan, the release stated, takes into account the major investments of Pacific Mutual Life as they relates to modernising the power plant to make it more efficient. By making the power plant more efficient, GEBE has been able to curtail the cost of production.
It is the policy of GEBE to pass on reductions to consumers. It reduced the price of electricity by 18 per cent in November 2004 and by a further four per cent in January. Taking into account today’s 10 per cent drop, GEBE has reduced electricity prices 32 percent over the past two years.
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