The PUC has announced its Initial Decision on the 2020 Full Tariff Review Proceeding for BEL.
Basically, BEL made a submission for an Annual Review Proceeding in January, in which it recommended to increase the current rate of 41.5¢ cents per kilowatt-hour to an average 45.33¢ cents per kilowatt-hour for the Full Tariff Period, which runs from July first, 2020, to June 30th, 2024.
The PUC rejected it, though. The PUC has decided on an average Mean Electricity Rate of 42.42¢ per kilowatt-hour for the Full Tariff Period. This is an increase of 2.50%.
But, the currently approved tariffs will remain effective until the end of this year, and, after that, will increase by 2.86% for the remainder of the full tariff period.
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