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WAPA Adjusts LEAC for October Billings

Oct. 3, 2005 – Residents' power and water bills are going up again.
According to a press release from the V.I. Water and Power Authority Monday, the average cost of fuel increased from $50.29 per barrel in August to $56.18 in September. The release continued that the most recent invoices from Hovensa has forced WAPA to increase the Levelized Energy Adjustment Clause (LEAC) for electric and potable water customers billings effective last Saturday
The electric LEAC factor will increase to $0.16211 per kWh (kilowatt hour) from $0.153857. This raises the electrical bill of the average residential customer using 500 kWh per month by 2.20 percent or from $122.01 to $124.69. The electrical bill of the average commercial customer using 1200 kWh will increase by 2 percent or from $331.65 to $325.22; while the electrical bill of the average large power customer using 30,000 kWh will increase 2.38 percent from $6,767.90 to $6,928.64.
The potable water LEAC factor will increase from $3.50 per thousand gallons (KGal) to $3.83 per (KGal) raising the potable water bill of the average residential water customer using 2400 gallons per month by 1.68 percent or from $46.96 to $47.75.
WAPA adjusts the LEAC upwards or downwards, when fuel costs increase or decrease by $1.75 or more per barrel above or below the projected prices.
In their release WAPA officials say they regret the continuing LEAC increases, but WAPA, like utilities across the nation and the Caribbean, is experiencing higher operating costs due to the rising cost of fuel. Presently crude oil prices are hovering close to $67 a barrel. As an important part of the V.I. economy, WAPA must continue to meet its financial obligations including the payment of its most important raw material——fuel oil which is required to produce electricity and potable water.
The Authority urges its customers to implement energy efficient practices in homes and businesses to reduce utility bills.

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