Falling fuel prices result in a decrease in FAC

Posted on Jul 02 2019

Tag: FAC

There has been a decrease in the average international fuel prices. As a result, the current fuel adjustment charge rate of the Commonwealth Utilities Corp. has decreased. This means CUC customers will be paying less for power this month.

In a statement yesterday, CUC said it has been notified by its fuel supplier, Mobil Oil Mariana Islands Inc., about the drop in fuel prices, resulting in CUC’s FAC of $0.20087 per kilowatt-hour going down to $0.18803 per kWh effective July 1, 2019.

Residential customers who use 500 kWh of power per month will pay approximately $6.42 less in their monthly billing.

The FAC is one of two components that make up the CUC electric kWh 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. (PR)

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