10 Sep 2014

CNMI utility to lower power bills

9:14 am on 10 September 2014

The Northern Marianas has announced power consumers can expect a decrease in their monthly bills due to the lower cost of diesel fuel.

The announcement comes after the CNMI Utility Corporations lowered its levelised energy adjustment clause, or LEAC rate.

LEAC represents the fuel component of a power bill and accounts for 70 percent of electric rates on power bills.

CUC's announcement translates to a drop of about 1.5 cents per Kilowatt-hour.

CUC noted that there has been a "downward trend" in the oil markets for the past weeks, with the August change "piercing" the 4.5 percent threshold and allowing the decrease in the fuel charge.