By Gemma Q. Casas
Variety News Staff

THE chairman of the House Committee on Public Utilities, Telecommunications and Communications is asking the Commonwealth Utilities Corp. to submit copies of its financial statements for the last three quarters, saying the documents are needed to determine the agency’s fiscal status.
Rep. Francisco S. Dela Cruz, Covenant-Saipan, said the committee is scheduled to meet on April 9.
The meeting comes in the wake of CUC’s plan to privatize the power plants on Saipan and Rota.
“As you know,one of the economic problems facing legislators today is the overwhelming effect of CUC’s increased power rates imposed on the people of the commonwealth,” Dela Cruz told CUC Executive Director Anthony C. Guerrero in a letter dated March 27.
“I request that the financial statements be provided to my office no later than April 5,” Dela Cruz added.
He said his committee is concerned over CUC’s installation and reconnection fees and its security deposit requirements.
“The committee finds that some of these fees are quite exorbitant and therefore may need to be adjusted accordingly,” he said, adding that the committee may request a meeting with CUC to discuss the issue.
CUC has been charging customers twice what they used to pay for electricity since July 2006 following the permanent adoption of new power rates.
Hundreds of CUC customers have filed complaints questioning the legality of the new rates.
But CUC’s Hearing Office recently issued an administrative order asserting the legality of the rates.