SAIPAN — Higher power rates are on the way as the Commonwealth Utilities Corporation announced the Fuel Adjustment Charge on electric bills will increase from $0.22075 per kilowatt-hour to $0.24500 per kilowatt-hour effective April 1, citing rising global oil prices.
CUC said the full calculated FAC rate for April is $0.44489 per kilowatt-hour, but a cap is in place under a Commonwealth Public Utilities Commission order that lifted a FAC tariff freeze effective March 15. Under that order, CUC must obtain CPUC approval before implementing any rate above $0.24500 per kilowatt-hour. CUC said it has formally submitted a request to CPUC for review and approval of the full calculated rate.
The FAC covers fuel and fuel-related purchases only. The separate CUC Base Rate, which funds personnel, operations, projects, debt service and other non-fuel expenses, has not increased since April 2014.
