Virgin Islands regulators approved lower electric rates effective July 1, 2020

The Virgin Islands Public Services Commission approved a reduction in electric rates that took effect with July 2020 billing, lowering the per-kilowatt-hour rate by about 1.5 cents for residential and commercial customers, according to a June 8, 2020 announcement from the Virgin Islands Water and Power Authority.

WAPA said the reduction had been proposed by the commission’s consultants and accepted by the utility before the PSC’s June 3, 2020 meeting. The lower rates were set to remain in place through December 2020.

Under the approved rates, residential customers using less than 250 kilowatt hours per month were to pay 39 cents per kilowatt hour, while customers using 251 kilowatt hours or more were to pay 41 cents per kilowatt hour. Commercial customers were to pay 45 cents per kilowatt hour.

WAPA said a residential customer using 400 kilowatt hours per month would have a bill of about $159, while a commercial customer using 2,000 kilowatt hours would average about $900.

The authority also said the new rate did not include deferred fuel costs and that future LEAC filings would include a deferred fuel amount. WAPA said it would file a deferred fuel reconciliation with the commission after completion of its fiscal 2018 audited statements.

Separately, WAPA said it had completed its May 2020 billing cycle and issued 51,828 CARES Act credits totaling $14.8 million, including 7,671 credits to commercial account holders and 44,157 credits to residential customers.

Official source: https://www.viwapa.vi/news-information/press-releases/press-release-details/2020/06/08/lower-electrical-rates-take-effect-on-july-1