Domestic household customers to get 22% reduction in electricity as of May

Minister of Finance and Treasury Harry Kuma this morning delivered the 2021 National Budget announcing a 22% reduction in electricity tariff for domestic customers effective by 1^st May 2021.

Kuma said the government has completed an independent review of the electricity tariff and based on that all tariffs of SIEA will be reduced and effective as 1^st of May.

Kuma said domestic or household customers are likely to see a reduction in 22%, commercial customers 27% reduction whilst industrial customers are going to see a fall in 5%.

He said the government expects an average overall reduction of 18% in tariffs.

Kuma said SIEA would provide the details of the reduced rates in the coming weeks before it comes into force.

The reduction comes as a good news to SIEA customers who are currently paying for one of the highest tariffs for electricity in the world.

The announcement also comes only weeks after a new CEO Donald Kiriau has taken the position. In congratulating Kiriau many had called on him to look at reducing the tariffs as one of his priorities.

News@SBMOline2021