State Electric Company (STELCO ) has announced its decision to reduce electricity charges. STELCO announced in a press statement issued this Sunday morning that the company made the decision to reduce its electricity charges as the price of diesel has been reduced to MVR 9.18. State Trading Organization (STO) has reduced the price of both fuel and staple products it imports into the country. STELCO said the fuel surcharge taken by the company will be cut by eight percent per unit. The company had been taking MVR 0.38 per unit as surcharge starting January of this year. The reduction will cut about MVR 0.04 from the fuel surcharge.