BEL asked for an increase of 5.49 cents per kilowatt hour in the average electricity rate, and yesterday, the PUC issued its final decision and granted only a 3.37 cents increase.
The new rate goes into effect tomorrow through to June 30, 2026.
In a release today, BEL says it had requested the increase solely to recover the difference of $84.1 million between the actual costs of power they paid for - and the what they actually charged consumers for - which was far less.
With the 3.37 cent increase the company says it will see a shortfall of $18.8 million in the requested cost recovery, but remains committed to delivering safe and reliable energy services to Customers.
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