Login

CNMI utility faces nearly 9 million US dollar operating loss this fiscal year

The Commonwealth Utilities Corporation in the Northern Marianas expects to incur an operating loss totaling 8.9 million US dollars by the end of the fiscal year.

This is based on CUC records in the first five months of the year, or from October 2011 through February 2012.

For power alone, the CNMI utilities company projects the operating loss to reach 5.9 million dollars.

For water, it is expected to reach 1.8 million dollars and for wastewater, 1.2 million dollars.

Power has the largest shortfall, mainly due to maintenance costs and lower than anticipated kilowatt-hour sales.

The projected shortfall for water and wastewater, meantime, is due to increasing operating costs as a result of inflation and other factors beyond CUC’s control.



THE NEW COMMENTS PROCESS

To make comments, you will need to register. You can register under your real name or use a 'screen' name. This way, people will be able to follow comments and make comments back and forth to each other. If you choose to use a 'screen name' no one will know your true identity. In either case, no email addresses will be available to anyone. It is an automated process. If you have questions, email: webmaster@samoanews.com

You currently are not logged in, please LOGIN to post comments.