Power rates go up further

The Commonwealth’s already high power rates just got a little steeper.

The Commonwealth Utilities Corp. issued its new schedule of rates yesterday and, for this month, it boosted the electric fuel rates by 2.6 cents per kilowatt an hour.

From the fluctuating electric rate of 38.7 cents per kWh in June, this month’s fluctuating electric rate is now 41.3 cents per kWh.

This means that under the July rates, residential customers will be assessed 41.3 cents in electric fuel rate plus 1.6 cents in electric non-fuel rate, for a total of 42.9 cents per kWh for the first 500 kWh—the highest ever electric rate in the CNMI.

Those consuming 501 to 1,000 kWh will be charged 41.3 cents in electric fuel rate plus 6.6 cents in electric non-fuel rate, for a total of 47.9 cents per kWh.

For residential customers that incur 1,001 to 2,000 kWh, they will be assessed 41.3 cents in electric fuel rate plus 8.6 cents in electric non-fuel rate, for a total of 49.9 cents per kWh.

Residential customers that consume over 2,000 kWh, they will be charged 41.3 cents in electric fuel rate plus 12.7 cents in electric non-fuel rate, for a total of 54 cents per kWh.

In addition, all residential customers will be paying the fixed customer monthly charge of $5.60.

For businesses, the picture is worse. Under this month’s rate, they will be assessed 41.3 cents in electric fuel rate plus 8.6 cents in non-fuel rate, for a total of 49.9 cents per kWh. Businesses must also pay the fixed monthly customer charge of $7.67.

CUC executive director Antonio A. Muna said that, based on the latest Mid Oil Platts Singapore data received from CUC’s fuel supplier, the price per barrel for fuel before freight and other associated charges are added on is averaging $165 as of June 27, compared to the average $158 per barrel in May 2008.

“Thus, as long as the price per barrel continues to rise, our consumers are likely to experience the same incline,” said Muna in a statement.

CUC first revised its power rates to more than double the previous rates on May 3, 2008. This came about after Gov. Benigno R. Fitial signed into law the bill that suspends the power rates rollback.

Since March 2008 up to May 2008, residential customers had been paying the lowest rate at 17.6 cents per kWh pursuant to Public Law 15-94.

Residential customers first experienced the lowest fuel rates in October 2007 when P.L. 15-94 took effect, putting a cap at 17.6 cents per kWh.