“The increasing cost of fuel is primarily the reason for the 3-cent increase per kilowatt-hour that our consumers will be experiencing,” Muna said in a statement.
Last month, CUC’s fuel rate was 35.7 cents per kilowatt-hour.
The new rate will be 38.7 cents/kwh and it will apply to residential, commercial, government and non-conforming load customers of CUC.
The electric fuel rate that appears in CUC customers’ billing statements varies every month depending on the prices of fuel and lube oil in the market.
As of May 28, the price per barrel of diesel oil averaged to $158, according to Mid Oil Platts Singapore.
Last April the cost of fuel per barrel was $138 per barrel.
With the 3-cent increase in fuel rate, CUC expects to generate about 20.8 million kilowatt-hour sales in June.
CUC estimates that the costs of fuel and lube oil in the market will now amount to $8 million.
The Public Utilities Commission has yet to come up with an official statement on CUC’s implementation of the 35.7 cent-kwh rate in May.
