Previous Story
‘Rehab of power plants is best right now’
|
Posted on May 09 2008
Antonio Muna, the new Commonwealth Utilities Corp. executive director, said the rehabilitation of engines at the power plants is the best option that right now rather than privatization.
“Privatizing a performing asset means we will get a maximum return versus trying to privatize something or sell something that is not performing,” Muna told the media.
The executive director said the Fitial administration and CUC are focusing on the rehabilitation aspect at the moment but hope that privatization could soon be done.
“At the end of the day, we’ve got to do what’s best for the entity, CUC. But at the same time what’s best in the public’s interest,” he said.
Muna said if the public interest is to pursue privatization, that will be the recommendation he is willing to make.
“If it’s in the best interest to keep that [repair and rehabilitation] because we can make some improvements and that we can perform accordingly, then we’ll do so in that regard as well,” the CUC official said.
In July 2007, the Office of Public Auditor ordered the cancellation of the request for proposal to privatize CUC’s power operations.
In OPA’s order, public auditor Michael S. Sablan ruled that CUC failed to conduct the procurement process fairly and transparently, and discouraged competition by charging exorbitant fees.
