13 May 2010

CNMI utility seeks 37 percent power rate hike

10:59 am on 13 May 2010

In the Nothern Marianas, on top of a proposal to increase water and wastewater rates, the Commonwealth Utilities Corporation is also seeking a 37-percent increase in its levelized energy adjustment clause rate, LEAC, from June to September this year.

The Commonwealth Public Utilities Commission instituted the LEAC in December 2008 as a rate tariff designed to be adjusted periodically, generally every six months.

In a report submitted to the Commission early this month, the CUC wants to adjust the rate primarily to reflect changes in fuel oil prices.

The rise would result in an overall increase of approximately 36 percent in a typical electric bill, or about $74.87 per month.