The Island?s electricity usage has increased over the previous year with Belco Holdings Ltd. reporting that through November 2005, total kilowatt sales were 3.6 percent ahead of the same period in 2004.

Residential sales led the usage with a 4.6 percent increase over the first 11 months of last year. Belco attributes this rise to a 1.8 percent increase in the number of metered connections and an average 2.6 percent increase in consumption.

Large commercial sales increased 3.1 percent while small commercial sales were also ahead 2.5 percent over 2004.

Garry Madeiros, president and chief executive officer said the further stabilisation of the system from the effects of this summer?s fire which destroyed two switch rooms and stranded several engines remained the focus of the quarter. Belco has also begun construction of a permanent facility that is due to be complete by the end of June and will continue to act on recommendations that have come out of the fire probe into the New Year. These include an audit of the Belco protection system, a strategic review of the Belco power system, as well as fire prevention and protection studies.

?Unquestionably, 2005 has been a year to remember. The Belco fire presented enormous challenges, but fortunately, we were spared the wrath of a very mean hurricane season,? said Mr. Madeiros.

In September last year, Belco began researching and developing a discussion document on options for meeting Bermuda?s electricity requirements through the next 20 years. The company plans to present the document ? which covers everything from the central plant to renewable energy technology and planning standards related to building codes ? to Government and the community early this year.

?This year?s fire at the Belco plant has served to re-focus on an issue we highlighted 15 years ago ? the need for Bermuda to earmark alternative sites for future energy plant development,? Mr. Madeiros said.

The quarter ended November 2005 also saw Holdings conclude the sale of its 51 percent interest in Belco Energy Services Company Limited (Besco) to New Venture Holdings Ltd.

Bermuda Gas and Utility Company Limited also posted an 8.7 percent increase of overall sales year-on-year. The company attributed an 11.9 percent increase in gas sales to both the higher price of propane gas and a 2.3 percent increase in gas sales volume. Appliance sales moved 3.7 percent ahead of the same period in 2004, due primarily to increased commercial sales which were further reflected in 4.7 percent improved performance of service and parts sales.

Belco is poised to celebrate its centennial on September 29 and as part of this has donated $100,000 to support the Bermuda Aquarium, Museum & Zoo?s new Hospital and Diagnostic Treatment Centre. Bermuda Post Office stamps to mark the centennial were photographed by Belco electrical engineer Abayomi Carmichael using an infrared camera, which is used as test detection equipment in our power plant.

Belco?s board of directors has declared a dividend of 38.5 cents per share for the fourth quarter of 2005. On December 20 the market price per share was $40.35.