State Electric Company (STELCO) on Sunday shaved off eight percent from its electricity fuel surcharge rates following the changes brought to oil prices by State Trading Organisation (STO).
In a statement, STELCO disclosed that the rate at which it purchases oil from STO has been reduced by 10 laari (MVR 0.10) to MVR 9.18 per litre from Sunday onwards.
This is the first time the electricity fuel surcharge was reduced after the overall increase in electricity tariffs in February 2016. The fuel surcharge per electricity unit had been increased twice since then with four laari per unit charged from last September 19 until the surcharge was hiked to 12 laari per unit in December 2016.
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