GPA spokesman Art Perez said the CCU and GPA will revisit the proposal in June for a possible Aug. 1 adjustment.
GPA had initially proposed to increase the Levelized Energy Adjustment Clause, or LEAC, rate by 9.84 percent. Perez said this proposal was made because of the rising cost of oil.
The last time GPA increased its rates was in December 2010, when the price of oil was $83 per barrel. Currently, the price averages at about $106 per barrel.
Perez said there are also other factors affecting GPA, such as the downturn in tourism.
“GPA is also affected because hotels are not being occupied and less power is being used,” said Perez.
In the meantime, Perez said GPA will bridge the losses from their working capital fund until they can raise the LEAC in August.
