Guam – The Democratic legislative leadership and it’s new candidates pledged to fight to make energy more affordable by supporting alternative energy.
During a press conference in front of one of the Cabras island power plants the Democrats promised to help decrease the islands depended on oil. One of their major energy initiatives involves liquefied natural gas or LNG.
Thursday, they pledged to support the Guam Power Authority in it’s pursuit of diversified fuel sources like LNG.
“This liquefied natural gas potentially this study that was done was saying that the government of Guam could be saving up to 1 billion dollars a year for 30 years,” said Speaker Judi Won Pat.
It was GPA management and the CCU who conducted a study of the feasibility of switching to liquid natural gas and came to the conclusion that it could save Guam up to a billion dollars a year.
READ the Democratic Party’s Energy Initiative Resolution below:
DEMOCRATIC LEADERSHIP AND CANDIDATES ENERGY INITIATIVE
WHEREAS, under Democratic leadership, Public Law 29-62 required the development of renewable energy production to decrease our total reliance on oil for electricity production; and
WHEREAS, under Democratic leadership, Public Law 31-233 authorized the Guam Power Authority (GPA) to refinance its bonds, realizing $8 million in annual savings and relieving ratepayers of increased power bill rates; and
WHEREAS, the Democratic leadership authored Bill 230-31, which would require all government of Guam buildings to be energy efficient; and
WHEREAS, the Democratic leadership and candidates recognize that residual fuel oil cost for electricity generation cost the people of Guam about $300M annually, with the price of electricity rising approximately 300% from about $.05/kwh in 2003 to about $0.19/kwh in 2012; and
WHEREAS, the Democratic leadership and candidates recognize that Guam must pursue a less costly and more energy secure alternative, including the use of liquefied natural gas (LNG) fuel, and that LNG reserves are substantial in the United States and worldwide presenting an opportunity for a cheaper and stable energy source for Guam; and
WHEREAS, the Democratic leadership and candidates recognize that support of LNG and alternative energy sources can realize over $1 billion in savings over the next 30 years and can lead to substantial consumer and business savings, spurring economic growth and ensuring the fiscal stability of public education, health, and safety resources.
BE IT RESOLVED, that the Democratic leadership and candidates support GPA’s pursuit of diversified fuel sources including LNG as recommended by the 2008 Consolidated Commission on Utilities (CCU) Integrated Resource Planning Report; and
BE IT FURTHER RESOLVED, that the Democratic leadership and candidates shall work with Congresswoman Madeleine Z. Bordallo in encouraging the United States Department of Energy to extend federal renewable energy and energy efficiency tax incentives to companies that will provide alternative renewable energy to Guam.
THE DEMOCRATIC LEADERSHIP AND CANDIDATES HEREBY ADOPT THIS RESOLUTION, SIGNED THIS 1ST DAY OF NOVEMBER, 2012.