“No memo has been issued,” he added, saying that the central government is doing its best to pay the Commonwealth Utilities Corp.
Demapan also denied that CUC is running out of money to buy fuel for its power plants.
He said it is very important for the administration to ensure that CUC meets its fuel needs.
At this time, he added, the administration is not aware of any problems that CUC may have in terms of purchasing fuel.
“We are doing our best to make sure that we have funding for it. But at this time, there is no issue about rolling blackouts,” he said.
Because of the increasing cost of fuel, Demapan said CUC will “naturally” raise its rates, too.
CUC Executive Director Abe Malae earlier issued a public notice on a proposed rate hike that will take effect on May 11.
Demapan said meeting the gap between the increased fuel costs and CUC’s earnings is a matter that the utilities agency has to decide at the appropriate time.
At this point, he added, the administration has not received any notification from CUC regarding this issue.
