CCU Meets To Approve Budget; Sanchez Dismisses Japanese Media Report On $740 Mil Loan


Guam- The Consolidated Commission on Utilities (CCU) is meet Tuesday night to approve its budget for the 2011 Fiscal Year and to continue discussions on adopting ultra low sulfur fuel.

CCU Chairman Simon Sanchez says with the successful issuance of $200 million dollars for capital improvement projects and the LEAC reduction, he’s confident budget projections will be worked on this evening. He also feels the move to use ultra low sulfur fuel is good and that the utilities are ready to convert.

“I think there’s a consensus that Guam can move to ultra low sulfur fuel” said Sanchez. “Tonight, we will confirm that GPA is ready to move and we’ll see how the legislature works on the bill that’s before them this week. But we’re ready to convert. We think its good. We want to buy low sulfur fuel. It’s clean!”

Sanchez adds Japanese media reports on Japan not agreeing to provide $740 million dollars in loans to upgrade Guam’s utilities for the buildup are pure speculation. He reiterates nothing has been confirmed, although it was first mentioned in the Final Environmental Impact Statement (FEIS). He believes if money is going to spent on buildup upgrades, it will come out of the federal government’s pocket, not Guam’s.

The next CCU meeting will be on Tuesday, August 24.