Higher prices for big businesses under new BVIEC rates
The debate on the motion, introduced by Premier and Minister of Finance Dr Natalio D. Wheatley, began on Thursday, August 13, 2026, during the continuation of the Fifth Sitting of the Third Session of the Fifth House of Assembly and concluded with the motion being passed.
Minister for Communications and Works, Honourable Kye M. Rymer (R5), in support of the bill, stated that the proposed adjustment is intended to reduce the Government’s annual subsidy to BVIEC by half.
He explained that the measure is intended to restore BVIEC’s solvency and long-term sustainability, enabling the corporation to meet its future operational and capital needs.
“This is not about increasing BVIEC’s profitability,” Rymer said. “This is basically about just their financial survival.”
Unsustainable subsidies could force the use of public funds
According to the minister, continued reliance on unsustainable subsidies could eventually force the Government to bail out the corporation using public funds. He warned that such a situation could result in higher taxes and place an even greater burden on the Government’s finances.
Rymer said the current challenge is linked to the existing electricity rate structure, which he noted has not been changed in more than 25 years.
He stressed that the proposed adjustment should not be viewed simply as a choice between an increase in electricity rates and no increase at all.
“The choice is between a small, targeted adjustment today or a much larger and more painful adjustment tomorrow,” he said.
Not all Customers would see change
The minister said approximately 95 per cent of BVIEC customers would see no change in their electricity bills under the amendment. The adjustment would apply to consumers who use more than 1,500 kilowatt-hours of electricity.
However, the Premier and Minister of Finance, Dr the Honourable Natalio D. Wheatley (R7), said 919 of the corporation’s 17,680 customers would be affected.
Rymer added that the proposal would allow the Government to protect the majority of customers while addressing the corporation’s financial challenges.
Measure will promote sustainability
He also linked the measure to the need to preserve BVIEC’s ability to retain staff, maintain reliable service, and continue meeting the electricity needs of residents across the Virgin Islands.
“We must act now, and we must address the change in the tariffs for the sustainability of the BVI Electricity Corporation,” Rymer said.
In expressing his support for the motion, the minister said he was choosing sustainability, resilience, energy independence, and the future of the territory.
The passage of the motion provides the legislative basis for the Government to implement the targeted tariff adjustment as it seeks to strengthen BVIEC’s fiscal health and reduce the corporation’s dependence on public subsidies.
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12 Responses to “Higher prices for big businesses under new BVIEC rates ”
How are they going to run this department? The audit needs to go back several years. Too much cover-up in this place at the expense of the people. This is the worst it has ever been. This legislation was sneaked behind the people's backs.
Allow bvi customers to use solar with no exceptions or limits. They will show you they dont need you.
When the current is unstable you did no pay for the fuel and appliance destroyed from businesses and residents. F
So let’s be clear. We keep hearing that government has to make these moves because the money isn’t enough, yet somehow the answer keeps coming back to putting more pressure on the people.
Now it’s electricity rates. They say 95% won’t be affected, but 919 customers will carry the increase because BVIEC needs to survive. We understand the need for sustainability, but where is the accountability for how we got here after 25 years without changing the rates?
And let’s not forget the borrowing. If government borrows $100 million, that money still has to be paid back. Whether it comes through taxes, fees, rates, or cuts, the people eventually carry the burden.
All 13 not here to make noise just for the sake of making noise. We listening. We reading between the lines. We watching what is being said and what is actually being done.
**Still tongue keeps a wise head. All 13 watching from the shadows. ????**