BEL is taking one for the team, by not increasing your electricity rate.
Last week Friday, BEL made a submission to the Public Utilities Commission proposing to maintain the Mean Electricity Rate at $0.3692, or just about 37 cents per kilowatt hour up until June 30, 2018.
The utility does this at some cost since the cost of power has been higher than projections over the past year. But the power Company expects that the cost of power for the first half of 2018 will be lower than the PUC's projection - and that things should event out. One of the big growth assumptions is that there will be continued growth in the tourism sector to drive demand for electricity.
The Final decision will be made by the PUC.