The Public Utilities Board has approved a one-time bill credit through the rate stabilization plan to give rate relief to island utility customers.
The credit will cover the period from July 1, 2020, to June 30, 2021, Consumer Advocate Dennis Browne said Thursday. In order to receive the credit, ratepayers must be customers of the utility on July 1, 2020. Ratepayers will receive their credit on their July 2020 utility bill.
The rate stabilization fund applies to island ratepayers. The fund is used to purchase fuel for the Holyrood Thermal Generation Plant. This year the price of oil is anticipated to be lower than the previous year, resulting in this credit.
The credit each customer will receive depends on their energy usage. The previous usage estimation factors will determine the credit.
“This July 2020 one-time credit will provide some COVID financial relief to consumers including restauranteurs, small businesses and municipalities,” Browne said in a news release.