ENERGY Fiji Ltd (EFL) says it is asking for a 17.27 per cent tariff increase to keep the commercial statutory organisation abreast with inflation and to reflect the true electricity cost for Fiji.
EFL is also asking for a review of electricity tariffs every four years.
In its submission to the Fijian Competition and Consumer Commission, EFL said a regular review of the electricity tariff and robust regulatory regime was also essential if Fiji was to attract private investment into the electricity generation sector.
EFL said this would provide investors fair opportunity as well as the confidence of investing in the power generation sector – an area where a lot of investment would be required in the future.
The energy provider said in the absence of a regulatory regime to enforce and initiate a regular review of the electricity tariff rate, an environment of uncertainty could jeopardise energy projects planned for the future.
“We endorse that the regulatory regime will need to carry out a review of the electricity tariff rates every four years,” said EFL in its submission.
“This is important from an investor perspective as well as the financial sustainability of the industry.”
