24 Aug 2010

American Samoa power company collects millions of revenue for third quarter

9:50 am on 24 August 2010

The American Samoa Power Authority collected more than 69 million US dollars in revenue for the third quarter of the current fiscal year 2010.

The Authority's approved budget for fiscal year 2010, which ends on September 30, 2010 is 90.78 million dollars.

It says the huge variance in projections versus actual is the loss of one of ASPA's biggest customers, Samoa Packing cannery which closed down last September, and destroying of several electric and water meters by last year's tsunami.

It had a total operating revenue of 37.35 million dollars.

Total expenses for the quarter totaled 71.65 million including fuel marketing expenses of 23.74 million and 38.30 million for the electric division.

ASPA became a fuel importer in 2008.