LUCELEC April Fuel Surcharge Adjusted Amid Rising Global Oil Prices

Castries, April 16, 2026 – St. Lucia Electricity Services Limited (LUCELEC) advises its customers that there is a significant increase in the fuel surcharge applied to electricity bills for April 2026. This change is driven by current higher global oil prices affecting the cost of fuel used to generate electricity locally.

The fuel surcharge applied to bills this month increased by $0.248 per unit compared to March. The recent adjustment reflects fuel that was purchased at higher international prices to generate electricity this month. During March, lower‑priced fuel acquired before global prices escalated was still in use, resulting in a lower surcharge for that month. LUCELEC purchases fuel every two to three days from its locally based international supplier, which means changes in global prices are reflected in customer bills, albeit not immediately because of the fuel stock on hand at any point in time.

Global instability, including the ongoing conflict in the Middle East, continues to disrupt international oil markets, which has led to significant increases in fuel prices worldwide. The price of oil has risen by an estimated 30 to 60 per cent since the conflict began in February, and despite mitigating measures implemented by LUCELEC, these global pressures are now being reflected locally.

LUCELEC Managing Director Gilroy Pultie explains, “Through our fuel hedging programme, LUCELEC can lock in the price for a portion of fuel purchased, which helps to reduce exposure to sudden market movements. However, the balance of the fuel must be purchased at prevailing international prices. When global oil prices rise sharply, as we are seeing now, it affects the fuel surcharge and what customers pay on a month‑to‑month basis given the ongoing global conflicts. Unfortunately, the market conditions prior to the conflict in the Middle East did not meet our criteria for significant hedging and as such it is only cushioning the sharp rises to a very limited extent”

He further noted that, “Electricity is an essential service, and we understand the pressure that higher bills can place on customers. While global fuel prices remain outside our control, we are committed to operating efficiently, communicating transparently and engaging customers throughout this period. In addition, we are reviewing our hedging strategy and are constantly looking for opportunities to hedge more of the fuel used going forward, despite the challenges presented at this time.”

The fuel surcharge remains a transparent cost‑pass‑through mechanism. It reflects the actual cost of fuel used to generate electricity and does not generate profit for LUCELEC. Importantly, base electricity rates have not been increased.

The fuel surcharge is applied to the basic energy rate of each unit of electricity consumed and is reflected on customer bills. In keeping with regulatory requirements, LUCELEC publishes the monthly fuel surcharge on its website at www.lucelec.com [1] to ensure transparency and public access to information.

While this current fuel situation is driven by external factors over which LUCELEC has limited control, customers are encouraged to continue to take practical steps to reduce electricity consumption and help manage monthly bills. In the near term, this includes paying particular attention to high‑use appliances such as air‑conditioning units, refrigeration equipment, and lighting, as well as switching off appliances when not in use.

Given the uncertainty about the duration of this crisis, everyone should take control of their energy usage and avoid waste. Every kilowatt-hour saved counts. Customers are encouraged to monitor their monthly electricity usage using the LUCELEC MyAccount service at www.myaccount.lucelec.com [2]. Customers having trouble paying their bills are advised to contact LUCELEC early so that available support options can be discussed.

LUCELEC continues its Energy Efficiency public awareness campaign across radio, television, social media and other platforms. The campaign provides practical tips to help customers better manage electricity use and maintain greater control over energy costs.

LUCELEC will continue to monitor the global market developments and keep customers informed about how changes may affect electricity bills. The Company remains committed to supporting customers and maintaining a reliable electricity supply during this challenging period.

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