CCU to vote on LEAC increase
By the end of tonight, we should know whether we will be one step closer to paying more than $20 dollars more on our power bills.
By KUAM NewsGuam - By the end of tonight, we should know whether we will be one step closer to paying more than $20 dollars more on our power bills. Members of the Consolidated Commission on Utilities are meeting as we speak to - among other things - vote on whether to approve the Guam Power Authority's request to increase the Levelized Energy Adjustment Clause.
According to GPA general manager Joaquin Flores, the increase will go towards recovering fuel costs. He said, "When we filed our current LEAC, fuel oil was right around $83 a barrel and now our forecast through the end of this period is going to almost $107 per barrel - that's a 28% increase in fuel cost alone. So the purpose is strictly on the increase on fuel prices."
The 9.8% increase equates to about $23 more on an average consumer's power bill. If approved tonight it heads to the Public Utilities Commission for their review and approval.