CUC has a “good working relationship” with the Commonwealth Public Utilities Commission’s consultant, he added.
Georgetown was hired by CPUC to look into the current power rates and to submit its report to help formulate power rate structure.
Muna said CUC will come up with its response to the report during a scheduled public hearing on Dec. 12.
He said the proposal to establish a levelized energy adjustment charge tariff that will remain in place for six months should be seriously considered.
“This might be associated with a potential increase or decrease in the power rate,” he noted.
Georgetown recommended that instead of setting a monthly electric fuel charge, CUC should impose a levelized energy adjustment charge tariff.
Muna said this tariff will be based on a six-month potential electric fuel charge instead of the monthly rate that CUC is currently charging.
He said the tariff will allow the people to plan accordingly compared to CUC’s current month-to-month up and down rate.
The recommendation to set provisional electric rates for CUC for the next 18 months, with periodic reviews and possible changes during that period, can also be implemented by CUC, Muna said.
But CUC, he added , will still have to address its $45 million debt to the Commonwealth Development Authority.
“The new power rate should reflect the business plan that will bring CUC financial stability and allow it to settle all its liabilities,” he said.
According to Muna, they submitted vital information to Georgetown regarding the operations of CUC as well as its revenue and expenses report.
