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FAC for March remains the same
The Commonwealth Utilities Corp.’s fuel adjustment charge for the month of March remains at $0.20109 per kilowatt-hour.
Although there has been a slight decrease in the Mean of Platts Singapore monthly pricing from February to March as notified by Mobil Oil Mariana Islands, Inc., the decrease did not equal or exceed a 4.5 percent differential of the average per gallon cost of fuel.
Accordingly, there will be no adjustment made to the overall CUC kWh rate for March.
CUC is allowed, pursuant to an order previously issued by the Commonwealth Public Utilities Commission, to adjust (up or down) the FAC pass-through 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 current FAC rate.
The FAC is one of two components that make up the CUC electric rate, which is used to purchase fuel. The second component is the CUC base rate, which is used to fund operations, projects, and debt service. This base rate has not been increased since April 17, 2014.
CUC first instituted LEAC in 2009 to recover fuel and fuel related costs, a system also used by power providers in Guam and the U.S. Virgin Islands. In May 2015, CPUC authorized CUC to change the name of LEAC to FAC to provide customers a more accurate description of the rate. (PR)
