From $0.18803 per kWh, the FAC will be $0.16635 per kWh starting March 1, CUC Executive Director Gary Camacho said.
Residential customers who use 500 kWh of power per month will now pay approximately $10.84 less on their monthly billing statement.
Camacho said CUC has been notified by Mobil Oil Mariana Islands Inc. about the decrease in the average international fuel prices.
Pursuant to a Commonwealth Public Utilities Commission order, CUC must adjust, either up or down, its fuel adjustment charge rate when the Mean of Platts Singapore monthly pricing equals or exceeds a 4.5 percent differential of the average per gallon cost of fuel used in the calculation of the FAC rate.
The fuel adjustment charge is one of the two components for CUC’s electric kWh rate that is used to purchase fuel. The other component is the base rate which, since April 17, 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.
