Citizens will now be paying an increase of between 15 to 64 per cent on their electricity bill.
This follows a recommendation by the Regulated Industries Commission (RIC).
During a press conference this morning, the RIC also confirmed its recommendation that customers will now be charged monthly instead of every two month.
In addition to this a fixed customer charge on your bill will now increase from a maximum of $6 every two months to now $7.50 monthly
Commercial customers will also see an increase.
T&TEC will have to inform customers of changes to the rates 21 days before it is implemented.
Based on the kWh consumption, at tier one, customers will pay a tariff of $0.28 per kWh (previously $0.26); at tier two, customers will pay $0.40 per kWh (previously $0.32); at tier three, $0.54 per kWh (previously $0.37); and at tier four, customers will pay $0.68 per kWh.
The RIC said the new rates for residential customers amount to an increase of between 15 per cent for low-consumption users and 64 per cent for high-consumption users if applied by T&TEC.