“N-O” – that’s what the PUC told BEL today in response to the utility’s April second request for an average increase of 13% in electricity rates. In its response which was issued just before 5:00 this evening, the PUC explained that 350 persons, groups or companies sent in comments – and all of them asked the PUC to deny BEL the increase.
Weighing those comments and BEL’s technical input, the PUC has decided that the reference price of power should go up by half a cent. But that is offset by the value added of delivery, which goes down a third of a cent and the rate stabilization adjustment which goes down around two-tenths of once cent.
It’s a very precise measuring, but with that the PUC says that, and this is the bottom line, the average rate per kilowatt hour of 44 cents that as approved in 2007 should remain for 2008 into 2009. But that’s not the end of the annual review process. If BEL’s executives don’t like that conclusion – and we’ll bet they don’t – they can ask for an independent expert to be appointed. That expert would then submit his or her review and the PUC does not have to submit a final decision until the end of June.
This evening, a BEL representative would only say they are reviewing the decision. So, there are likely battles ahead, but for the time being – your rate will remain the same.
