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Governor pleased with House move to repeal rate setting law
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Posted on Mar 27 2008
Gov. Benigno R. Fitial yesterday expressed satisfaction yesterday with a House move to repeal Public Law 15-94, the law that forces the Commonwealth Utilities Corp. to charge utility consumers some 17 cents per kWh, far below the actual cost of providing power service.
“I thank Speaker Arnold Palacios and 16th House for supporting this long overdue repeal to provide much needed financial relief for CUC and stabilize its operations,” said Fitial.
Fitial characterized the House action as a major breakthrough and urged the Senate to follow suit.
The Governor noted that when Rep. Arnold Palacios first introduced the bill in the 15th Legislature, the bill had good intentions but took a different turn with subsequent legislative amendments.
“I am very pleased that Speaker Palacios’s original intent is now closer to becoming a reality with the House’s approved modification of this troublesome law,” said Fitial.
Public Law 15-94 became law through a legislative override and resulted in a declaration of emergency and severe hardship for CUC. [B][I](PR)[/I][/B]
