PSC Keeps WAPA LEAC Rate Unchanged as Fuel Costs, Cash Strain and Power Reliability Concerns Persist

Electricity customers in the Virgin Islands will not see immediate pricing relief on their bills, after the Public Service Commission voted Tuesday to keep the Levelized Energy Adjustment Clause at its current rate.

The LEAC will remain at 22.22 cents per kilowatt hour at least until September 30, 2026, following a recommendation from Julius Wright, the PSC’s consultant on electric utility matters.

“The Commission should accept WAPA’s offer to keep the LEAC rate at 22.22 cents per kilowatt hour,” Mr. Wright told commissioners.

He said the recommendation was driven largely by the ongoing conflict in Iran and the resulting spike in fuel costs, along with WAPA’s financial condition.

“Because they are so cash-strapped, it’s not in the best interest of the customers, the Commission or the company to lead them into such a situation that they can’t pay their vendors and collect their fuel costs.”