The House of Assembly has approved a motion to amend the Statutory Rates, Fees and Charges Act, 2005, paving the way for a targeted adjustment to electricity rates aimed at improving the financial sustainability of the BVI Electricity Corporation (BVIEC). Photo: VINO/File

Minister for Communications and Works Honourable Kye M. Rymer (R5), in support of the bill, stated that the proposed adjustment is intended to reduce the Government’s annual subsidy to BVIEC by half. Photo: Youtube

Premier and Minister of Finance, Dr the Honourable Natalio D. Wheatley (R7), said 919 of BVIEC’s 17,680 customers would be affected by the amended Statutory Rates, Fees and Charges Act, 2005. Photo: YouTube

The debate on the motion, introduced by Premier and Minister of Finance Dr Natalio D. Wheatley, began on Thursday, August 13, 2026, during the continuation of the Fifth Sitting of the Third Session of the Fifth House of Assembly and concluded with the motion being passed.

Minister for Communications and Works, Honourable Kye M. Rymer (R5), in support of the bill, stated that the proposed adjustment is intended to reduce the Government’s annual subsidy to BVIEC by half.

He explained that the measure is intended to restore BVIEC’s solvency and long-term sustainability, enabling the corporation to meet its future operational and capital needs.

“This is not about increasing BVIEC’s profitability,” Rymer said. “This is basically about just their financial survival.”

Unsustainable subsidies could force the use of public funds

According to the minister, continued reliance on unsustainable subsidies could eventually force the Government to bail out the corporation using public funds. He warned that such a situation could result in higher taxes and place an even greater burden on the Government’s finances. 

Rymer said the current challenge is linked to the existing electricity rate structure, which he noted has not been changed in more than 25 years.

He stressed that the proposed adjustment should not be viewed simply as a choice between an increase in electricity rates and no increase at all.

“The choice is between a small, targeted adjustment today or a much larger and more painful adjustment tomorrow,” he said.

Not all Customers would see change 

The minister said approximately 95 per cent of BVIEC customers would see no change in their electricity bills under the amendment. The adjustment would apply to consumers who use more than 1,500 kilowatt-hours of electricity.

However, the Premier and Minister of Finance, Dr the Honourable Natalio D. Wheatley (R7), said 919 of the corporation’s 17,680 customers would be affected.

Rymer added that the proposal would allow the Government to protect the majority of customers while addressing the corporation’s financial challenges.

Measure will promote sustainability 

He also linked the measure to the need to preserve BVIEC’s ability to retain staff, maintain reliable service, and continue meeting the electricity needs of residents across the Virgin Islands.

“We must act now, and we must address the change in the tariffs for the sustainability of the BVI Electricity Corporation,” Rymer said. 

In expressing his support for the motion, the minister said he was choosing sustainability, resilience, energy independence, and the future of the territory.

The passage of the motion provides the legislative basis for the Government to implement the targeted tariff adjustment as it seeks to strengthen BVIEC’s fiscal health and reduce the corporation’s dependence on public subsidies.