7 Aug 2012

CNMI utility ordered to return 800,000 US dollars to customers

11:08 am on 7 August 2012

The House of Representatives in the Northern Marianas has adopted a resolution requesting the Commonwealth Public Utilities Commission to order the CUC to give back some 800,000 US dollars it has collected from customers since July last year.

The money is expected to repay a planned 10 million US dollar loan that did not materialize.

Under the resolution, the 800,000 could be given back to the Utilities Corporation customers through reimbursement or off-setting.

The Corporation had planned to enter into a 10-million dollar loan deal with Independence Bank of East Greenwich.

The money was to meet federal requirements under the US District Court and the Environmental Protection Agency stipulated orders, and also enable the Utilities Corporation to buy maintenance parts and equipment for power plant one.