On Tuesday, the government of Grenada said that more than 21,000 low-income households will get lower electricity rates as a result of a subsidy of EC$10 (one EC dollar is equal to 0.37 US cents). The subsidy will be in place for the next 12 months.
In a statement, the government said that customers of the Grenada Electricity Services Ltd. (GRENLEC) will start to see the subsidy on their February bills. This is part of the government’s plan to lower the cost of living for its citizens.
“February will cost the government EC$176,140. Also, low-income households that use less than 100 kWh per month will not have to pay the Value Added Tax (VAT) or the Environmental Levy, which will save them more money, according to the statement.
It said that customers of GRENLEC who don’t qualify for the subsidy will pay VAT at a lower rate of 7.5% instead of the old rate of 15%.
“All types of GRENLEC customers will save a lot of money because of this relief. “The government is taking this chance to remind the public of how important it is to save energy and use it wisely. It also reaffirms its commitment to lessening the effect that high energy costs have on the population,” the statement said.
