STELCO raises fuel surcharge

State Electric Company (STELCO), providing electricity for Malé City, has increased the fuel surcharge.

The company charged MVR 0.53-0.30 per unit in January 2016 and MVR 0.25 in February before the cutting the charge altogether from March to July. The charges however came back in September at a rate of MVR 0.04 and the fuel surcharge for November has been raised again.

And so the from 16 November 2016, STELCO has decided to charge MVR 0.12 per unit.

The electric company made the change while the Maldives Energy Authority has approved to charge MVR 0.03 to every 0.10 that exceeds in the price of Diesel over MVR 8 per liter.

Statistics of the company show that the price of Diesel bought by STELCO is at MVR 8.40 from 16 November 2016 onwards.