It is an attention grabbing headline, but what does it actually mean to the average user?
If media reports are correct, Government is going to subsidise the cost of fuel oil bunker C to the BNOC to the tune of $1.5 million. Again, according to media reports any saving will only apply to residential users, which were estimated at around 33% of total consumers.
As electricity bills climb, presumably so does the VAT collected and I wonder if anyone has actually calculated the additional revenue to Government this has brought?
Is this simply an exercise of giving with one hand and taking from another?
It would be interesting to know, what an average residential electricity bill is, and what has been the overall increase in VAT collected so far this year.
18 November 2007