To privatize CUC the prospective buyer will first have to overcome Public Law 16-17 by shelling out $250,000,000.
There is no private company in its right mind that would do that. There is a bill in the Legislature to privatize CUC in a certain way and you might want to study this so that your so-called editorials are well-informed. There is interest in forming a cooperative — so why don’t you encourage local activists to pursue that very workable idea?
Apparently you did not study the need for the funding to overhaul engines — DOI approved $3 million for this as the Marianas Variety correctly reported. Whether privatized or not CUC would still need to overhaul engines because they are the base load for the power system. Did you not study the précis of the critical situation with power generation?
You attacked the reason for a Request for Proposals for financing customer balances. This is actually a service to customers who are struggling to pay their utility bills. These financing arrangements will allow customers to keep their lights and water on, while allowing CUC to get out of the banking business.
ABE UTU MALAE
Executive Director
Commonwealth Utilities Corp.
