At the bottom end of a six-hour meeting Monday, Public Services Commission members approved a 17.215-cent electric levelized energy adjustment clause rate, an increase of about 2.3-cents per kilowatt hour.
With power outages cascading across the territory and the news in the last week – even getting attention on National Public Radio on the mainland – we worry these events might presage a new drive toward privatization of our public utility.
WAPA said electric system personnel are reviewing data logs of the utility's generating units to determine the root cause of a 12-hour outage Friday that affected all customers of the St. Thomas-St. John District.
The amount the V.I. Water and Power Authority can charge for electric bills based on estimated consumption may soon be limited under a bill approved Monday by the Senate Committee on Government Operations and Consumer Protection,
Fitch Ratings, one of the three major government bond rating agencies, specifically cited a recent bill in the V.I. Legislature as the reason it was putting the financially struggling utility on a negative ratings watch.
The board of directors of the V.I. Water and Power Authority voted Thursday to allow the utility to defer payments due on millions of dollars in existing lines of credit with FirstBank and its Community Disaster Loan with the Federal Emergency Management Agency.
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