State Electric Company (STELCO) Managing Director Ahmed Shareef assured a 30-50% reduction on electricity bills once power band is changed to a flat rate.
The utility provider’s move is a result of Maldives President Ibrahim Mohamed Solih’s pledge to place a flat rate on electricity bills regardless of consumption. The change will be effective nationwide.
Speaking about this, Shareef said the most common customer complaint was the surge in electricity bills during the hot season. He added that the issue would be resolved with the flat-rate pricing decision.
The STELCO MD also said that seven bands were allocated for residences previously, which increased depending on electricity usage driving the bills up.
“The president has announced a flat rate, which will reduce the bills by 30-50%,” Shareef said.
He also noted that the president’s policy change would significantly benefit consumers by simplifying the pricing structure.
“This is a historic decision made by the government. No one in the past has made such a significant decision,” Shareef added.
He also noted that STELCO was currently in discussions with the Utility Regulatory Authority to implement a fixed rate on electricity usage.