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CUC updates Chamber members on its integrated resource plan
Stakeholder review meeting input on IRP next week
The Commonwealth Utilities Corp.’s integrated resource plan serves as a blueprint for the public utility’s future, including possible energy sources and cost cutting-measures and this was discussed by CUC executive director Alan Fletcher during yesterday’s Saipan Chamber of Commerce membership meeting at the Fiesta Resort and Spa’s Hibiscus Hall.
He told Chamber members in attendance that CUC came out with the IRP to finally address years of poor financing performances that include rates that have not recovered its cost of service, cash flow remaining, volatility of prices in the oil markets, and court-ordered projects.
Fletcher said the whole reason why the IRP is needed is that it will help to review options for generation type and mix, system integrity and losses, conservation options, ownership, operating, and financing options.
“What the IRP really wants is for a long-term energy source that will be cost-efficient for many years to come. What we need to determine is to meet what really needs to be met here in the CNMI for utilities,” he said.
The IRP project for CUC determines financial modeling in fairly choosing among different proposals of any mix type of energy source from different proposers that “makes sense.”
According to Fletcher, they are now in the early stages of identifying what request for proposal will be used so strategies could be developed and what will be more reliable.
Fletcher noted that Leidos Engineering LLC is helping CUC by comparing the proposals of different companies.
As part of the process for the IRP, Fletcher has invited stakeholders to meet with Leidos next Thursday so they can review the IRP and provide their input.
“Stakeholders will attend and review with the consultants on the IRP and get their input on what their views are in the future,” Fletcher said. “We want to find a solution that is based on reliable information, mutual, and unbiased decision and involve community members for a better community endorsement that is understood by everyone and not just CUC.”
