And while BWSL rate review proceedings were the main event of the PUC's press conference today, a burning issue was addressed by Chairman John Avery. Do we or do we not get a lowered electricity rate? Avery issued a statement that, although their decision is not final as yet, no objection has been formally presented to them by the BEL or 10% of its shareholders. Although BEL issued a public statement that they wanted initial decision revisited, the decision is set for permanence in a matter of days. Here's what Avery had to say today:
John Avery - PUC Chairman
"We issued an initial decision on BEL and again the licensee and interested parties representing users of at least 10% of the power consumed in the previous year have until the 27th to submit comments and objections. That deadline has not reached as yet. We have not received any objections or comments as yet, and so until that happens there is not really much to say about the BEL situation."
"We are still waiting until the deadline to see if we receive any objections or comments from the licensee which is BEL, or from interested party's representing users of 10% of electricity. If we don't get any objections then by law the initial decision automatically becomes the final decision."
Because there a number of days left, BEL or its shareholders can still object, which would send the proposed rate lowering right back to the negotiation table.
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