BEL says it's taking a lick with the price of fuel, but the utility says it doesn't want to increase your electricity rate.

On Monday the power company submitted a proposal to the PUC asking to keep the average electricity rate pegged at 41 cents per kilowatt hour for the next Annual Tariff Period, which runs from July 1, 2019 through to June 30, 2020.

But, the company says it's taking pain to keep the rate pegged. A release says that from July 2017 to June 2018, the company saw an 18.5 million dollar shortfall in revenue, because sales came in below projection and the cost of power from suppliers - meaning mainly fuel was higher than projected.

The Company says it hopes to recover this shortfall over the next three annual tariff periods to lessen the impact on your bill.

Notably, BEL reports low production from local hydro plants impacted by drought.

Channel 7