(CUC) — By order of the Commonwealth Public Utilities Commission, the Commonwealth Utilities Corp. is authorized to adjust the Fuel Adjustment Charge or FAC depending on the price of oil. Adjustments are made 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 FAC.
Due to an increase in the average fuel oil prices, CUC has adjusted the fuel and lube oil element by 5.27%. Accordingly the FAC has increased from $0.29174 per kwh to $0.30712 per kwh effective Oct. 1, 2023.
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.
