The Commonwealth Utilities Corp. has yet to receive reimbursements from the Federal Emergency Management Agency for the expenses they incurred due to the damage brought by Typhoon Soudelor.<\/p>\n
In an interview, chief financial officer Matthew Yaquinto said they have about 15 project worksheets for FEMA.<\/p>\n
About five worksheets have been approved so far for the \u201csmaller\u201d projects, according to Yaquinto, but they haven\u2019t received any funds yet.<\/p>\n
He added that a FEMA representative will be coming back on island for their worksheets and documentations.<\/p>\n
Yaquinto said they will be spending over $20 million on Soudelor recovery projects alone.<\/p>\n
Since FEMA will be reimbursing 90 percent of the costs, about $2 million will be paid by CUC, but the corporation might pass that on to consumers.<\/p>\n
\u201cIt has to be in the rates,\u201d Yaquinto said. \u201cIt will be on our rate case.\u201d<\/p>\n
Yaquinto said they will be discussing this with their consultants, economist.com, which will be coming in January.<\/p>\n
\u201cBased on our annual, it will be 1 cent a kilowatt hour,\u201d Yaquinto said when asked what $2 million will look like when passed on to the consumer.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Commonwealth Utilities Corp. has yet to receive reimbursements from the Federal Emergency Management Agency…<\/p>\n","protected":false},"author":51,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[49,493,5903,6333],"class_list":["post-217566","post","type-post","status-publish","format-standard","hentry","category-local-news","tag-cuc","tag-fema","tag-matthew-yaquinto","tag-typhoon-soudelor"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/217566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/51"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=217566"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/217566\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=217566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=217566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=217566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}