CUC: Power rate to remain the same in January

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THERE was another slight increase in the fuel price, but the Commonwealth Utilities Corp. said it will not affect its fuel adjustment charge.

CUC Executive Director Gary Camacho, in a statement, said the slight increase in the Mean of Platts Singapore monthly pricing in January does not equal or exceed a 4.5 percent differential of the average per gallon cost of fuel.

He said the pass-through fuel adjustment charge or FAC of $0.18803 per kWh will remain in effect in January. The current charge was first set in July.

As required by the Commonwealth Public Utilities Commission, CUC must adjust the FAC when the Mean of Platts Singapore monthly pricing equals or exceeds a 4.5 percent differential of the average per gallon cost of fuel.

FAC is one of the two components that make up the CUC electric kWh rate, which is used to fund operations, projects, and debt service.

The base rate, the second component, has not been increased since April 17, 2014.

The base rate remains $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.

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