(st-Tuesday, October 16, 2007 By Agnes E. DonatoReporter
Gov. Benigno R. Fitial will announce his proposed solution to the looming power crisis tomorrow, according to his spokesperson.Press secretary Charles P. Reyes Jr. said the governor is expected to go on local radio Wednesday morning to discuss how he plans to prevent the return of rolling blackouts despite CUC's projected deficit.The administration says CUC will experience a shortfall of $7.2 million to $8.4 million in electric revenues as a result of the reduced rates enacted by the Legislature.According to Reyes, the governor has been meeting with CUC officials since last week to address the crisis.“The governor will be announcing his remedy within a couple of days. If nothing is done, CUC will run out of money to buy fuel and it will have to implement power rationing. The governor wants to prevent that from happening,” said Reyes.Residential power rates were reduced to as low as 17.6 cents per kWh after the Legislature overrode the governor's veto of House Bill 15-246 recently.Under the legislation, households will pay 17.6 cents per kWh for the first 1,000 kWh. This represents the fuel rate, which may fluctuate from month to month depending on the cost of fuel. Before this act, the fuel rate averaged 20 cents per kWh.The fixed non-fuel rates will no longer be charged for the first 1,000 kWh. But for anything over 1,000 kWh, the non-fuel rate will be 44 cents per kWh, plus the 17.6-cent fuel rate. Previously, the non-fuel rate schedule ranged from 1.6 to 12.7 cents per kWh for residential customers.The new law cuts the monthly customer charge from $7.67 to $3.50.
Monday, October 15, 2007
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