But CUC chief financial officer Warren Charles said there’s no guarantee that they can withhold a rate increase within the next six-month period.
“If there’s an unusual high increase in fuel prices, then we will make an emergency petition [for a rate hike],” he said.
On Monday, he said, the fuel prices were steady but they “suddenly jumped” yesterday.
“The world fuel price is very volatile,” he added.
He said CUC is hoping for a more stable fuel price so that there will be no increase in its levelized energy adjustment clause, or LEAC, rate.
Early this month, Georgetown Consulting Group, the regulatory consultant of the Commonwealth Public Utilities Commission, endorsed a power rate increase for the next six months.
But Warren said after hearing from the public, CPUC asked CUC if it could maintain the current power rate which is $0.24446 per kilowatt-hour.
This was supposed to be increased to $0.25338 per kwh.
“There will be no increase,” Warren said.
Georgetown will draft an amended petition and submit it to CPUC, he added.
