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Maldives slaps large businesses with higher power tariff

Fathmath Shaahunaz
09 June 2016, MVT 06:14
STELCO building in the capital Male. MIHAARU PHOTO
Fathmath Shaahunaz
09 June 2016, MVT 06:14

Electricity charges for large enterprises have been hiked beginning this month, following the new electricity tariff rates introduced for businesses.

Maldives Energy Authority (MEA) stated in a notice that electricity will be charged at the new rates from June 1.

MEA new electricity tariff for large businesses

601 – 3000 units: MVR 4.35

3001 – 10,000 units: MVR 5.75

10,000 and above units: MVR 6.65

An official of State Electric Company (STELCO) stated that the new tariff will not affect small and medium enterprises, but rates have been hiked for industrial workshops and major supermarkets.

MEA former electricity tariff

0 – 100 units: MVR 3.30

101 – 300 units: MVR 3.30

301 – 500 units: MVR 3.65

501 – 600 units: MVR 4.35

MEA added that STELCO has been authorised to charge MVR 0.003 as fuel surcharge should diesel purchase rates for STELCO exceed MVR 8.

Meanwhile, there has been public outcry of hiked electricity rates following the new tariff introduced for civilians last January, following which rates had been described for 500 units and below. However, due to persisting complaints, President Abdul Yameen Abdul Gayoom had recently stated that the tariff would again be revised.

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