From $10.6 million collected last September\u2014before Super Typhoon Yutu struck Saipan and Tinian\u2014the Commonwealth Utilities Corp.\u2019s revenue from power plummeted to $3.7 million last December\u2014a 63-percent decrease due to the typhoon\u2019s devastation.<\/p>\n
In her PowerPoint presentation to CUC board last Thursday about CUC collections for first quarter of fiscal year 2019, acting chief financial officer Corina Magofna said the $3.7 million collected in December 2018 is the lowest power revenue CUC has ever had in the last 16 months, or since October 2017.<\/p>\n
According to Magofna\u2019s presentation, the power collection in October 2018 reached $5.3 million and dropped to $4.2 million in November 2018.<\/p>\n
CUC started to recover in January 2019, with its power billing collection going up to $4 million.<\/p>\n
CUC expects its power billing collection for this month to significantly increase. <\/p>\n
Yutu struck Saipan and Tinian last Oct. 24 and 25.<\/p>\n
For water, CUC collected $763,000 last September and $796,000 last October. The collections then dropped to $461,000 last November, and $665,000 last December. <\/p>\n
Last month, CUC\u2019s water revenue collection improved to $901,000. <\/p>\n
As of Feb. 7, 2019, CUC\u2019s Yutu-related expenses has already reached $11.7 million, incurred from October 2018 to January 2019\u2014a four-month period.<\/p>\n
Magofna said CUC, however, received $8.9 million in reimbursement for typhoon-related expenses from the Federal Emergency Management Agency, bringing the unpaid balance to $2.8 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
From $10.6 million collected last September\u2014before Super Typhoon Yutu struck Saipan and Tinian\u2014the Commonwealth Utilities…<\/p>\n","protected":false},"author":23,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[900],"tags":[49],"class_list":["post-293734","post","type-post","status-publish","format-standard","hentry","category-featured","tag-cuc"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/293734","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\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=293734"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/293734\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=293734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=293734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=293734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}