The Fijian Competition and Consumer Commission’s recent decision to temporarily halt the proposed electricity tariff increase has been met with approval from the private sector. This pause is aimed at allowing for more extensive consultations with various stakeholders before any final changes are made.
Edward Bernard, CEO of the Fiji Commerce and Employers Federation (FCEF), raised concerns about the initial proposal from Energy Fiji Limited (EFL), which suggested a staggering 37% increase in tariffs without prior consultation. Bernard stressed the importance of engaging key stakeholders, who are essential to Fiji’s economic landscape, prior to implementing such significant changes.
In an interview with Fiji One News, Bernard revealed that the FCEF intends to formally submit feedback to the Commission based on insights collected from its members. He pointed out the challenging nature of utility costs, which already represent a substantial portion of business expenses, stating that any increase in electricity tariffs could stifle business growth, investment opportunities, and overall market competitiveness.
The FCEF views the Commission’s recent decision as a critical moment that will enable a thorough examination of the tariff proposal through the lens of the business community. This ongoing dialogue promises a more informed and balanced approach to future tariff adjustments, aimed at benefiting both consumers and businesses alike. The outcome could potentially ensure greater stability and foster growth within Fiji’s economic environment, highlighting the importance of collaboration in addressing essential economic issues.