GEBE Management doubles Fuel Clause Relief covering a six-month period

After serious consideration of the Supervisory Boardâ??s proposal, management of NV GEBE decided to double the current fuel clause relief from 4.5 cents to 9 cents per Kilowatt Hour (kWh).

The relief for businesses on St. Maarten will be increased from 4.5 cents to 8 cent per kWh.

NV GEBE intends to extend the fuel clause relief over a six monthsâ?? period instead of the original three months proposed by the Supervisory Board of the Company.

The total amount of relief that will be given to the community is equivalent to what was originally proposed by the Supervisory Board of Directors. The difference is that a lower monthly amount will be given but spread over a longer period of time and therefore a benefiting the business community and consumers over a longer period of time.

The reason for this spread is reduce the direct financial impact on the company. Furthermore, the consumers would be insulated from drastic fuel clause spikes for the coming six months.

With the current drop in oil prices on the world market over the past couple of weeks, the community will see a natural reduction in their utility bills.

The increased relief now being given by GEBE is expected to drop the price of electricity even further.

Managing director Mr. William Brooks stated that he was happy to have reached a decision that is in line with the Supervisory Boardâ??s proposal to bring about some extra relief for the public of St. Maarten in these challenging times. The relief will be implemented immediately and can be seen on the October bills. It will cover the usage period of September to the end of February 2009. 

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