Electricity rates for households in Male’ area to be cut down

State Electric Company (Stelco) has announced that they will be cutting down electricity rates for households in Male’ area.

The announcement comes after Maldives Energy Authority issued a circular on Wednesday, announcing changes to electricity rates for “businesses” in Male’ area, including introduction of three more bands above 6600 units.

The new electricity rates for businesses mean that MVR 1 – MVR 2 more will be charged for each unit.

An official from Stelco spoke to “Sun” on Thursday and said that electricity rates for households in Male’ area would be reduced back to the rates charged before the increase in electricity rates in January.

“The adjustment will be made and we are looking to make it more balanced for civilians,” said the official.

The official said that the change in electricity rates mean higher electricity cost for state-owned buildings.

Some business owners who were interviewed by “Sun” said that the rise in electricity rates taken from their businesses would mean higher prices of products they sell.

Additional three bands for business units:

• 600 – 3,000 units: MVR 4.32 per unit

• 3,000 – 10,000: MVR 5.75 per unit

• 10,000 plus: MVR 6.65 per unit

Previous rates for business units:

• 0 – 100 units: MVR 3.30 per unit

• 101 – 300 units: MVR 3.35 per unit

• 301 – 500 units: MVR 3.65 per unit

• 501 – 600 units: MVR 4 per unit

• 600 plus: MVR 4.35 per unit

Maldives Energy Authority has also given Stelco permission to charge MVR 0.03 per kilowatt for each additional 10 laari the company pays above MVR 8 for fuel.