The Public Utilities Commission has denied BEL an increase in electricity rates for what is known as the Full Tarriff Review Period, which is from July 1st, 2020 to June 30, 2024.
BEL made a request for an increase of the current rate of 41.51 cents per kilowatt hour to 45.33 cents per kilowatt hour.
But rather than get that 9% increase, the PUC has instead approved a 2.57% decrease. A release today says that the PUC yesterday made its Final Decision and "approved Regulated Values that resulted in an average Mean Electricity Rate (MER) of 40.32¢ per kilowatt-hour for the Full Tariff Period. This represents a general decrease of some 2.57%."
The release adds that the currently approved tariffs will remain effective until the end of this year and will then decrease by 2.90% for the remainder of the Full Tariff Period. BEL - which has had its differences with the PUC - can still appeal. More on this tomorrow when the PUC has a press conference
