30 Nov 2011

Power hike sought in CNMI, just days after a cut in price made

4:19 pm on 30 November 2011

A cut in power rates in the CNMI is likely to short lived with the islands' utilities company petitioning for an emergency base rate hike from next year.

The Commonwealth Utilities Corporation is asking for the increase after the regulatory commission agreed that an independent power producer supplying the utility be paid a higher rate.

There has also been a hike in employer contributions to the Northern Marianas retirement fund.

The new 60 percent employer contribution rate to the fund will cost the power company about a million US dollars more each year.

Earlier in November power consumers got a significant cut in their charges after the regulatory commission agreed to an 11 percent cut in the price of oil paid by the utility.