In a brief meeting on Thursday afternoon, the V.I. Public Services Commission officially voted to reconsider their decision to lower the Levelized Energy Adjustment Clause rate for electricity.
The Water and Power Authority excoriated the PSC following its June vote to cut the electric LEAC from 22.22 cents per kilowatt hour to 17 cents, calling the move “irresponsible” and likely to cause “irreversible harm.” Almost immediately, WAPA filed a petition for reconsideration, effectively blocking the implementation of the rate relief for now.
“PSC staff recommends, in order to have a full and complete record on this matter, the reconsideration be granted,” said attorney Boyd Sprehn on Thursday. He suggested a relatively rapid briefing schedule so that the matter could be addressed during the PSC's next meeting on August 12.
When the staff recommendation was put to a vote, commissioners unanimously agreed to the reconsideration, with a view to fully deliberate on the question of where to position the electric LEAC for the territory during next month's meeting.
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