14 Dec 2007

Guam power price goes up as oil price soars

1:48 pm on 14 December 2007

Power bills on Guam will increase after the Consolidated Commission on Utilities approved a 16 percent increase in the fuel recovery surcharge, which makes up about two-thirds of power bills.

The Pacific Daily News says the Commission Chairman, Simon Sanchez, puts the rise down to record high oil prices.

Mr Sanchez said a barrel of oil cost the Guam Power Authority about five and a half times what it cost five years ago.