Guam - After recapturing $8,000,000 in fuel payments in recent months, the Guam Power Authority is seeking a decrease in the Levelized Energy Adjustment Clause. GPA general manager Joaquin Flores says this will equate to a 1.9% decrease (a little over $5) to the average residential customer. The utility plans to make its case to the Consolidated Commission on Utilities this evening.
If approved, the request will go to the Public Utilities Commission for its approval for implementation beginning February 2012.
Meanwhile, commissioners are also reviewing the annual financial performance of GPA and the Guam Waterworks Authority. GWA had challenges with their revenues due to the water meter fiasco while GPA was able to improve costs and borrow money to improve its work capital.