He said the Mobil Oil Mariana Islands Inc. informed CUC about the decrease in the average international fuel prices, which affect the FAC.
The FAC is down to $0.08323 per kWh from $0.11885 per kWh.
Camacho said since July 2019 there had been a slight increase in the Mean of Platts Singapore or MOPS monthly pricing.
However, he added, CUC did not increase its power rate since the increase was not equal or did not exceed a 4.5% differential of the average per gallon cost of fuel.
Pursuant to the Commonwealth Public Utilities Commission order, CUC is required to adjust, either up or down, the FAC when the MOPS 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.
The FAC is one of the two components of CUC’s electric kWh rate and is used to purchase fuel. The other component is the base rate, which remains at $0.0210 per kWh for 1 to 350 kWh of power consumption for residential customers; $0.1130 for commercial customers; and $0.1240 for government accounts.
The base rate has not changed since April 17, 2014.