A week ago, the Public Utilities Commission announced that it has decided to lower electricity rates slightly.
On April 30th, it made the Initial Decision on the 2021 Annual Review Proceeding for BEL. The utility had made a submission for its Annual Review Proceeding on April 1st, 2021. The company requested that both the Mean Electricity Rate- at 40.18 cents per kilowatt-hour - and tariffs be retained for the next Annual Tariff Period.
But, the PUC felt it should go lower.
The PUC assessed the mean electricity rate at 39.99 cents per kilowatt-hour for the remainder of the Full Tariff Period from July 1st, 2021 to June 30th, 2024. As we said, that's a slight reduction from the 40.18 cents per kilowatt-hour. The Commission has retained the current schedule of fees and charges levied by BEL.
This is the initial decision, and it is left to be seen if BEL will challenge - it has up until the close of business on May 10th to do so.
