HAGÅTÑA (The Guam Daily Post) — Sen. William Parkinson has introduced Bill 208-37, a measure to extend the long-standing energy credit program three more months, from January 2024 through March 2024.
According to a news release from Parkinson’s office, Bill 208 stems from the recent decision by the Consolidated Commission on Utilities, which authorized the Guam Power Authority to petition a rate increase with the Public Utilities Commission. The proposed 3-cent rate hike translates to an increase of about $33 in monthly bills for residential ratepayers who use 1,000 kilowatt-hours on average per month.
The release stated that the PUC may choose to raise rates even higher, while the energy credit program is set to expire soon.
The Prugråman Ayuda Para I Taotao-ta Energy Credit Program was implemented last year, initially just for five months but has been extended through bill after bill. The last extension was enacted last month, applying the usual $100 per month credit to billing from October through December.
“Power is a large component in the high cost of living, and people are leaving Guam every day because of the cost of living,” Parkinson stated in the release.
“We need to do everything in our power to avert such a drastic increase in power bills. Bill 208 would use the money the government has collected in excess of what it expected to collect and give it back straight to the people’s pocketbook where it belongs,” he added.
The release noted that the general fund’s Consolidated Revenue and Expenditure Report for October showed a little more than $13 million collected in excess of budget.
However, the report also takes into account the $15.8 million appropriated for the current round of energy credits and actually shows a negative balance of about $2.6 million for net unobligated revenues.
The CRER for November has not yet been published, but it appears Parkinson anticipates that the government of Guam will continue to see excess revenues as the fiscal year marches on.
“As this trend continues, it will fund the energy credits Bill 208 seeks to extend,” the release from his office stated.
Parkinson stated in the release that utilizing excess tax revenue for power credits is a proactive and practical solution that not only provides immediate financial relief for ratepayers but also promotes a “more sustainable and community-oriented approach” to managing public funds.
“We have power rate increases and pay raises for upper management all while we have load shedding. That’s not people-focused. Somebody has to look out for the best interest of the people of Guam and not just the best interest of GPA,” Parkinson added.
William Parkinson
