02 Feb 2018
- By Junhan B. Todiño – [email protected] – Variety News Staff
COMMONWEALTH Utilities Corp. Executive Director Gary Camacho said there will be a slight increase in the fuel-adjustment charge starting this month.
He said they were recently notified by Mobil Oil Mariana Islands about the increase in the average international fuel prices which affect the fuel-adjustment charge or FAC in the billing of CNMI power customers.
The new FAC rate will be $0.20109 per kWh, up from $0.18231 per kWh.
In December, CUC increased the FAC from $0.16886 per kilowatt-hour to $0.18231 per kWh. Residential customers consuming an average of 500 kWh of power per month had to pay an additional $6.72 or more each month.
Because of the most recent FAC increase, Camacho said residential customers consuming 500 kWh of power per month will pay $9.39 more each month.
Camacho said FAC is one of two components that make up the CUC electric rate, and is used to purchase fuel.
The second component is the base rate, which is used to fund operations, projects and debt service. Camacho said the base rate has not been increased since April 17, 2014.
Pursuant to an order of the Commonwealth Public Utilities Commission, CUC is required to adjust 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.
For more information about CUC rates, go to http://www.cucgov.org/wp-content/uploads/2018/02/Electric-Charges-Rates-020118.pdf.
Source: Marianas Variety : http://www.mvariety.com/cnmi/cnmi-news/local/101973-another-power-rate-hike-2018-02-02