Vincentians have been promised cheaper electricity bills by the country’s Finance Minister Camilo Gonsalves who was at the time addressing a gathering at Everything Vincy Expo on Monday.
His announcement came amid the arrival of the 20,000 barrels of oil the country received through PetroCaribe with a 35% discount to ALBA members which includes St Vincent and the Grenadines.
“If you want to know what solidarity looks like, you should take a trip down to Lowmans Bay and see a ship called the Inmaculada, which is off Lowmans Bay outside the Vinlec power plant, delivering to us today almost 20,000 barrels of diesel for electricity at heavily discounted rates, which will mean cheaper electricity bills for everybody,” the minister told those gathered.
St. Vincent Electricity Services Limited will use the majority of the fuel to produce electricity.
The agreement with PetroCaribe comes amid the growing crisis from the war in Ukraine which has impacted the price of fuel worldwide.
Several other members of ALBA are considering sourcing diesel from the Venezuelan government.