B.E.L. applies for six percent rate reduction

B.E.L. made a surprise announcement today that will be good news to consumers if agreed to by the P.U.C. This comes on the heels of an injunction granted by the Supreme Court on February twenty-sixth to the utility company not to proceed with a rate decrease that would have lowered the cost of electricity to consumers to thirty-seven point five cents because the utility company said it was not financially stable and there are no bylaws to authorize the P.U.C. to amend its final decision. In a release today the utility company says it is applying for a six percent average reduction in electricity rates for the year July first 2009 to June thirtieth 2010. While the purposed reduction falls short of the P.U.C.’s proposal, social customers can end up paying twenty-three cents, a decrease of six cents per kilowatt hour. Residential, commercial and industrial customers will see a smaller decrease, saving an average of two cents per kilowatt hour. The cost of powering street lights will also decrease by two cents to fifty-three cents and all flat rates will remain the same. All this, if approved by the P.U.C.