The Commonwealth Utilities Corp.’s Fuel Adjustment Charge remains at $0.19355 per kilowatt-hour for the month of October.
Although there has been a slight increase in the Mean of Platts Singapore monthly pricing from July 2021 to October 2021 as notified by Mobil Oil Mariana Islands, Inc., the increase did not equal or exceed a 4.5% differential of the average per gallon cost of fuel.
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.
CUC is required, 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% differential of the average per gallon cost of fuel used in the calculation of the current FAC rate. (PR)