BEL requests PUC reduce electricity rate

BEL is requesting that the PUC reduce electricity rate for the period July 1st of this year to June 30 2014. This submission was made by an application to the PUC under the Annual Tariff Review Proceeding. BEL is asking for an ease of 1 cent per kilowatt hour to reflect the actual Cost of Power since January 2013. This decrease would lead to a residential rate of about 48 cents per kilowatt hour. And thanks to recent reduction in the Company’s financing costs, BEL is also proposing to reduce its Rate of Return from 10 per cent to 9 per cent. BEL’s latest request comes on the heel of a 17% increase in average electricity rate made by the PUC in January of this year.

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