General Manager of the island sole electricity provider, Dominica Electricity Services Ltd. (DOMLEC), Bertilia McKenzie, revealed that despite a challenging year, the company experienced a 4.2 percent increase in electricity sales in 2015.
However, she revealed that the company experienced a drop in profit or net income of $12.29-million, as compared to the $14.8-million in 2014.
She blamed the increased taxation for the drop in profit.
“The profit in the year before, in 2014, was higher,” she stated. “One of the things is that our net income [in 2015], before tax, was higher, but the tax was higher. We paid more tax in 2015 than we did in 2014.”
Income before taxation in 2015 was $16.8-million, while it amounted to $16.5-million in 2014. However, in 2014, tax summed up to $1.6-million, but was $4.5-million in 2015.
She cited the lowered price of fuel and the decreased fuel surcharge as contributors to the increased figures before taxation.
“The price of fuel went down, and the fuel surcharge continued to go down in the year… When the fuel surcharge is less, people consume more electricity, because it’s cheaper,” she explained.
Meantime, McKenzie announced that the company plans to become a fully “clean and green” utility, by 2025.
“We intend to become a 100 percent Clean and Green utility by 2025,” she said. “That means to say that the supply of electricity will come from 100 percent renewable sources.”
Currently, however, 24 percent of DOMLEC’s installed capacity is hydroelectricity, while 76 percent of the capacity remains fuelled by non-renewable resources.