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 will adjust the fuel and lube oil element by 19.4%.
Accordingly, the FAC has increased to $0.29174 per KwH from $0.24435 per KwH effective Sept. 1, 2023.
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