FUEL CLAUSE RELIEF ENDS ~ Energy Conservation is key to lower utility bills~

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Philipsburg: --- As per March 1, 2009, the fuel clause relief of 9 cents per kilowatt-hour has been removed from the utility bills. The fuel clause relief was introduced in September 2006 when the price of a barrel of oil was approximately $65. The relief was increased to a total of 9 cents per kilowatt-hour in September 2008 after oil reached a peak of $147 per barrel in July. Largely due to lower demand for oil as a result of the global economic crisis, the price for oil has stabilized around $40 per barrel, which is about $25 less per barrel than when the fuel clause relief was originally introduced.
Although the price of oil continued to drop in 2009 to levels that no longer warranted any fuel clause relief, GEBE maintained the relief for the full six months as originally promised.
GEBE continues to encourage customers to conserve energy in order to maintain low electricity bills. Especially in times of economic crisis, saving money is even more important. Ways to reduce your electricity consumption are to use less air-conditioning, change your light bulbs to Compact Florescent bulbs or LED lighting and turn off or plug out electrical appliances when not in use.
GEBE also clarified that even though oil prices are currently low, the company would continue to pursue renewable energy sources for St. Maarten, Saba and Statia to reduce the dependence on oil. We also need to take into account that when the global recession ends, all of the factors that drove oil prices to record highs last summer will reemerge and oil prices could possibly rise above $100 per barrel again. We cannot afford to become too complacent. GEBE will continue to work towards affordable, reliable and quality electricity taking the environment into account.