CCU to authorize $195M bond for GWA
Guam - Your water bill is going to go up. The Consolidated Commission on Utilities is meeting this evening to review the Guam Waterworks Authority's $195 million bond request. CCU chair Simon Sanchez says the Commission is expected to give the authorization this evening.
"This is the estimated amount for the first of three bonds that if the legislature and the governor gives us permission and the PUC gives us the rates we would borrow as much as $495 million over the next five years this is the legislation that Senator Tom Ada has introduced," he said.
If approved residents will see a 57% rate increase as opposed to the originally anticipated 67% increase. this means that residents will see their bill go up by about $30 while businesses can see up to an 80% increase in their bill over the next five years. The bond will go toward repairs of the waste water treatment plants, studies, and water tanks which will bring GWA into compliance with the court order by the 2020 deadline.