The new Feed-in-Tariff rates which were announced recently by the Fair Trading Commission (FTC) to take effect on January 1, 2023, apply only to new applicants.This clarification has come from Chief Executive Officer of the FTC Marsha Atherley-Ikechi, who noted that existing suppliers of energy to the national grid under the FIT initiative will continue to earn the old rates.She made this clarification following a report by Barbados TODAY earlier this week, which suggested that the rates would apply across the board.“If I am a customer with my house and I want to start the process today or even if I engage a supplier and I am putting in my information into the online portal at the Ministry of Energy, it will be those rates that are applicable at that point, which are the new rates. Persons who are already in the systems prior to [January 1, 2023] will get the old rates.“Persons who already have systems, the rates that they applied for and are utilising will continue to apply. So we are not changing the rates that are already in existence. This only applies to the new people coming onto the system,” Atherley-Ikechi explained.
