TechInPacific – The global fuel oil price is going up from Feb 1 2022, affecting the Fuel Adjustment Charge of the Commonwealth Utilities Corp.
According to a news release on Friday, Mobil Oil Mariana Islands Inc has notified CUC about the price increase, and that the same would be observed in FAC. From now, the rate of FAC will be increased to $0.23908 per kWh from $0.20909.
The rate to purchase fuel is part of the two components forming the CUC electric kWh rate, with the other component namely the CUC base rate, utilized for finding operations, projects, and debt service. The base rate price was left untouched from April 17, 2014.
Source: Saipan Tribune