May 27, 2006 – An automatic increase in the Levelized Energy Adjustment Clause factor (LEAC) will take effect on June 1, the V.I. Water & Power Authority informed the Public Services Commission, increasing power bills for residents and businesses.
The increase for residential customers is 5 percent, meaning that a customer using an average 500 kWh monthly will see a $6.69 increase in the monthly bill. Commercial customers will see an increase of 4.5 percent.
The water LEAC will also increase from $5.27 to $5.38 per thousand gallons. This will increase the bill of the average residential water customer using 2,400 gallons per month by 26 cents.
The reason for the increase is primarily the rapid increase in the cost of fuel over the past several months, according to a release from WAPA. The automatic LEAC is triggered when the price per barrel of fuel increases or decreases by at least $1.75.
WAPA reminds its customers that energy conservation is critical in dealing with the increases and especially if crude oil prices continue to rise. The easiest place to conserve is to turn off unnecessary lights and to replace incandescent bulbs with compact fluorescent bulbs. WAPA also recommends installing timers on hot water heaters or reducing the temperature setting to 110 degrees.
Consumers can visit the WAPA Web site at www.viwapa.vi for more energy saving tips.
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