He said the fuel adjustment charge will remain $0.08323 per kWh for the month of June.
Pursuant to the order of the Commonwealth Public Utilities Commission, CUC is required to adjust, either up or down, the FAC when the Mean of Platts Singapore or MOPS monthly pricing equals or exceeds a 4.5 percent differential of the average per gallon cost of fuel used in the calculation of the current FAC.
MOPS is the “average of a set of Singapore-based oil product price assessments published by Platts, a global energy, petrochemicals, metals, and agriculture information provider and a division of S&P Global.”
The FAC is one of the two components of the electric kWh rate assessed by the public utility and is used to purchase fuel. The other component is the base rate, which, since April 2014, has remained $0.0210 per kWh for 1 to 350 kWhs of power consumption for residential customers; $0.1130 for commercial customers; and $0.1240 for government accounts.
