Pelican Energy TCI, the electricity company serving the Turks and Caicos Islands (“TCI”), advises customers that higher global fuel prices are expected to place upward pressure on the fuel factor rate portion of electricity bills as of June and July 2026. These pressures are driven by instability in parts of the Middle East and the impact on international fuel supply chains and energy markets.
The fuel factor rate is projected to increase from approximately $0.1751 to an estimated $0.3112 per kilowatt-hour (kWh) of electricity. This could mean an additional $15 to $140 per month for most residential customers, based on the amount of energy a customer uses during this period, and the final fuel factor rate. This projection is based on the best available information, and the actual rate may be slightly higher or lower based on the service territory. South Caicos customers will experience a higher fuel factor rate at the end of June; all other islands will see this increase in their bills at the end of July. It is difficult to forecast how long the elevated fuel factor rate will last.
The projected increase is not the result of a change to the electric rate (base rate) or utility pricing decisions but is the direct result of international fuel price movements beyond the utility’s control. Fuel factor rates on customer bills change with global fuel prices, rising when prices rise and decreasing when prices fall. This rate is based on the average cost of fuel at the time it is purchased from the supplier. Fuel is purchased in advance to maintain a stable electricity supply. As a result, global fuel price changes take several weeks to reflect on customer bills.
The projected fuel factor rate increase also coincides with the warmer summer months when electricity usage typically increases due to additional cooling needs and other factors. Reducing energy use in households and businesses can help offset or reduce the impact on electricity bills.
“We recognize the challenges that rising fuel prices place on households and businesses, particularly at a time when cost-of-living concerns remain front of mind. We do not take these impacts lightly and remain committed to working closely with the TCI Government, our key stakeholders, and our customers. At the same time, we are accelerating efforts to diversify the Islands’ energy mix through planned major investments in renewable energy,” said Devon Cox, President of Pelican Energy TCI.
He continued, “This includes the first wave of utility-scale renewable installations in Providenciales, new microgrids on sister islands following the successful completion of the North Caicos solar plus battery project, and the continued expansion of our rooftop solar partnership program. These investments are expected to significantly reduce reliance on imported fuel over time and help stabilize energy prices for our customers.”
Pelican Energy TCI will expand customer support initiatives for residential customers in the coming months, including energy-efficient giveaways, free home energy assessments and energy conservation resources. Customers can use a new Bill Estimate Calculator tool on the Company’s website to estimate how a higher fuel factor rate combined with higher or lower energy usage, could impact their bill. Customers are also encouraged to use My Online Account, a free web portal at www.mypelicanenergy.com to view, track, and download their energy usage data.
Pelican Energy TCI remains committed to open and timely customer communication. For queries, contact 649-946-4313, or email customerservice@pelicanenergytci.com.
