(CUC) — The Commonwealth Utilities Corp. has been notified by Mobil Oil Mariana Islands Inc. that there has been an increase in the average international fuel oil prices which will affect the Fuel Adjustment Charge or FAC.
As a result, the current FAC rate of $0. l 1165 per kWh will increase to $0.13585 per kWh effective Jan. 1, 2021. Residential customers who use 500 kWh of power per month will pay approximately $12.10 more in their monthly billing.
The FAC is one of two components that make up the CUC electric kWh rate and is used to purchase fuel. The second component is the CUC base rate which is used to fund operations, projects, and debt service. This base rate has not been increased since April 17, 2014.
CUC is required, pursuant to an order previously issued by the Commonwealth Public Utilities Commission, to adjust, up or down, the FAC pass-through rate when the Mean of Platts Singapore monthly pricing equals or exceeds a 4.5% differential of the average per gallon cost of fuel used in the calculation of the current FAC rate.
CUC is a non-profit agency of the CNMI government that provides electric power, water, and wastewater services to Saipan, Tinian, and Rota.
