SAIPAN – The Commonwealth Public Utilities Commission board voted 3-1 Friday to lift the $0.245 per kilowatt-hour cap on the Commonwealth Utilities Corporation fuel adjustment charge, raising the FAC to $0.44489 per kilowatt-hour, effective today.
The new rate represents an increase of approximately $0.19989 per kilowatt-hour over the previous cap.
CUC’s actual fuel cost is $0.60481 per kilowatt-hour, meaning the approved rate still falls short of full cost recovery by approximately $0.15992 per kilowatt-hour.
Earlier in the proceeding, the commission had asked CUC for additional figures before approving the increase. The 3-1 vote followed.
This is a developing story. Additional details to come.
