These changes introduced by the Public Utility Regulatory Commission (PURC) Interim Tariff determination means 2 new components, the Fuel Adjustment Clause and the Renewable Energy Charge, are now applicable to all customers.
The Renewable Energy Charge was implemented in October 2023 to show the impact of renewable sources of energy as a separate item (component) on the bill.
The second change, the Fuel Adjustment Clause is taking effect this month.
Fuel Adjustment Clause Overview:
Grenlec calculates the monthly customer fuel charge based on a 3-month average of fuel prices.
This means that there are always variations between the actual fuel costs incurred by Grenlec and the amount billed to customers through the fuel charge.
- Rising Fuel Prices: Customers pay less than Grenlec’s actual fuel costs. The fuel adjustment clause helps recover the difference in the following billing period
- Falling Fuel Prices: Customers pay more than Grenlec’s actual fuel costs. In such cases, the fuel adjustment clause allows Grenlec to credit the difference back to customers
Please note that while the fuel adjustment clause benefits both customers and Grenlec, it may result in significant upward and downward movements in the monthly fuel charge.
On 7 November 2023, the first FAC was implemented together with the monthly fuel charge as per the Interim Tariff:
For additional details, please visit grenlec.com, email, call or visit us at our Customer Care Centres.
| Fuel Charge | Fuel Adjustment Clause (FAC) | Renewable Energy Charge | |
| Oct ’23 | $0.5870 | Not Applicable | $0.003657 (portion supplied from RE was 0.99%) |
| Nov ’23 | $0.6378 | $0.1328 (applied to usage in the previous billing period) | $0.003637 (portion supplied from RE sources was 0.95%) |
All rates, including a rate history for the fuel charge and the fuel adjustment clause, are available at grenlec.com.
