The EBS Tariffs Committee’s recommendations served as the basis for the creation of the State Decree on Electricity Rates, which will take effect on June 1st of the following year. The Energy Authority of Suriname (EAS) notes that the IMF accords are mostly upheld by these increased electricity pricing. The new electricity rates will now go into effect as a result of the consensus that was reached.
This firstly indicates that the discount of SRD 260 is extended to home customers for a period of 6 months, with the result that everyone will receive a discount of 0 at the end of this year’s December. Beginning on June 1, the SRD 150 discount for business customers will end. The provisions for buying power enhancement also include the bridging rate, which will undoubtedly terminate on June 1 of next year. For all client groups, adjustments will be made to the base rate as well as the consumption rate. A 30% adjustment to the basic tariff will be made for extensive consumption. Finally, the minimum bill will now always equal the applicable phase connection’s basic rate.
The EAS, which serves as an independent body, is in charge of supervising the energy sector, keeping track of sector goals, analyzing rates, and keeping tabs on the performance and service standards of the power sector. In that position, it is also in charge of carrying out the IMF’s recommendations for the electrical sector and has closely monitored the revision process and the recent decision to change energy pricing.
It is more important than ever that subsidies and settlements for electricity are brought down to a level that is acceptable and manageable in order to balance the government’s budget and lessen the strain from subsidies. This frees up more money for social programs, healthcare, education, and production. With the adjustment in energy tariffs, a significant step in this direction has been made. The continuation of the energy supply and ensuring the sector’s sustainable growth both depend on the tariff modifications. At the same time, the current challenges in the energy sector are structurally addressed to promote economic growth and development. As a governing body in the energy sector, the EAS will continue to monitor and regulate, monitor, inform our citizens and all stakeholders in the sector and provide solicited and unsolicited advice for the purpose of continuity of electricity supply.