Over the past six months Oil prices have been falling globally. According to the Nasdaq, Oil prices for a barrel of crude oil as at today December 18, 2014 is $ 62.74 per Barrel. This is the lowest it has been in the past 5 years and oil prices are anticipated to drop lower. Oil price began a significant steady decline during the month July 2014. Oil prices went from approximately 112 dollars per barrel in July 2014 to a decrease of $ 62.74 per barrel as of today’s date. This represents a decrease of 43% as compared to July 2014 prices.

Despite this tremendous decrease in Crude Oil prices, Grand Bahama Power Company Emera has not reduced the fuel surcharges to their residential and commercial customers. In reviewing the fuel surcharges as at shown on the Power Company’s website, in July 2014 the fuel surcharge was 14.41 cent per kilowatt hour and this month the fuel surcharges are 15.95 cent per kilowatt hour. This represents an actual increase of 11% as compared to July 2014. While prices are going down, GBPCEmera increased the fuel surcharge by 11% when compared to July 2014.

A reduction of 1 cent in fuel surcharges based on an actual residential account for November 2014 with usage of 582 kilo hours would mean a saving $ 5.79 per month. All this information is available on Nasdaq.com on link below Commodities: Latest Crude Oil Brent Price & Chart http://www.nasdaq.com/markets/crude-oil-brent.aspx?timeframe=6m

Commodities: Latest Crude Oil Brent Price & Chart Get the latest crude oil brent price for September 2011 as well as the lastest prices for other major commodities at NASDAQ.com View on www.nasdaq.com Preview by Yahoo

Also on the Grand Bahama Power Company / Emera Website: http://www.gb-power.com/en/home/businessservices/billing/fueladjustmentcalculation/currentfuelsurcharge.aspx

The Coalition of Concerned Citizens is calling for the immediate reduction in the fuel surcharges rate to fall in line with the reduction of Global Oil prices. Also, we call for the any required rebates to be applied immediately to all customers’ accounts of GBPC Emera.