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CUC makes final payment to Telesource
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Posted on Feb 27 2009
The Commonwealth Utilities Corp. made its final payment of $180,000 in outstanding invoices to Telesource, which operates Tinian’s power plant.
CUC executive director Tony Muna yesterday said the utilities agency wrote a check for $180,000 on Feb. 24, ahead of the Feb. 27 deadline to settle its outstanding debt.
“We are now current in our payments,” he said.
This is CUC’s last monthly dues on a series of $180,000 promissory notes that funded the Tinian plant’s construction, maintenance and day to day services.
Last year, CUC and Telesource negotiated the monthly payment plan of some $800,000 in CUC’s outstanding debt to the power plant operator. Telesource had said without CUC’s payment, Telesource’s ability to pay its own third-party loans and buy supplies for the plant such as lubrication oil is threatened.
“We wish to continue our relationship with Telesource,” Muna said.
Jeff Barr, general manager of Telesource on Tinian, yesterday said the peak power demand on Tinian is about 5 megawatts, of which 40 to 45 percent goes to the International Broadcasting Bureau.
