FCCC declines EFL's submission for tariff increase

February 29, 2024 12:53 pm

The Fijian Competition and Consumer Commission has officially rejected Energy Fiji Limited’s submission for a proposed tariff increase.

Chief Executive, Joel Abraham made the announcement today during a press conference in Lautoka, shedding light on the decision-making process and the factors considered.

Abraham emphasizes the meticulous evaluation undertaken by the commission, highlighting key aspects such as EFL’s annual reports, capital expenditure, funding model constraints, financial sustainability, and borrowing levels.

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FCCC CEO Joel Abraham

He says these critical considerations formed the basis for the FCCC’s decision, and they will soon convey this to EFL.

“How long will we be susceptible to high energy costs as a result of burning fossil fuel, I think it is high time that EFL focused on renewable energy initiatives that could potentially help Fijians enjoy low electricity costs. So, while the world is looking at inflationary pressures and costs are going up, we are challenging EFL to say come up with initiatives or come up with strategies that will have investments to its renewables but also will lower cost.”

The proposal, which was put forward by Energy Fiji Limited on August 10, 2023, aimed to raise electricity tariffs, advocating for both fixed and variable charges.

However, after thorough examination and analysis, the FCCC deemed the tariff increase unsuitable, citing concerns and implications for consumers across Fiji.