{"id":360562,"date":"2026-05-07T12:31:09","date_gmt":"2026-05-07T16:31:09","guid":{"rendered":"https:\/\/dominicanewsonline.com\/news\/?p=360562"},"modified":"2026-05-10T11:50:21","modified_gmt":"2026-05-10T15:50:21","slug":"price-of-electricity-with-geothermal-expected-medium-term-price-drop-but-short-term-fluctuation","status":"publish","type":"post","link":"https:\/\/dominicanewsonline.com\/news\/homepage\/news\/price-of-electricity-with-geothermal-expected-medium-term-price-drop-but-short-term-fluctuation\/","title":{"rendered":"Price of electricity with geothermal: expected medium term price drop but short term fluctuation"},"content":{"rendered":"
\"\"
Sam Raphael<\/figcaption><\/figure>\n

DOMLEC board member Samuel Raphael explained in a press conference today that prices are set to decrease for all consumers due to the introduction of Geothermal power but in the immediate term is likely to fluctuate due to the global situation with oil prices.<\/p>\n

While an exact time line for the price change was not given Raphael explained that the specific reduction will differ depending on consumption.<\/p>\n

Smaller consumers can expect up\u00a0 to 17% reduction in their electricity costs while, small business owners may see a 12% reduction while larger businesses would see a 10% reduction.<\/p>\n

He gave a specific example that if you pay $100\u00a0 a month as a small consumer you will see a savings of $17 dollars paying $83 dollars.<\/p>\n

However, due to the rising trend in oil prices due to America’s war with Iran and resulting fall-out the prices are likely to fluctuate in the short to midterm but as prices are expected to stabilize overtime then the reduction from the introduction of Geothermal power is likely to drive prices down.<\/p>\n

The geothermal plant has been operating fOR about 1 month now and provides 10MW of energy to the supply grid.<\/p>\n

Raphael particularly noted that he was excited ,both as a business owner and as someone in the eco-tourism industry, in the improvement in green energy production to the tune of 75% of total supply when combined with the hydro-powerplant production<\/p>\n

This still means that currently 25% of supply comes from reliance on diesel which leaves the market vulnerable to global fossil fuel prices.<\/p>\n","protected":false},"excerpt":{"rendered":"DOMLEC board member Samuel Raphael explained in a press conference today that prices are set to decrease for all consumers due to the introduction of Geothermal power but in the immediate term is likely to fluctuate due to the global…","protected":false},"author":27,"featured_media":360564,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[18,237,36,22,235,9],"tags":[],"class_list":["post-360562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-climate-change","category-economy-development","category-environment","category-homepage-carousel","category-news"],"acf":[],"yoast_head":"\nPrice of electricity with geothermal: expected medium term price drop but short term fluctuation - 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