9 Feb 2015

CNMI utility losses 80 million over 9 years

4:43 pm on 9 February 2015

The utilities provider in the Northern Marianas has incurred more than 80 million US dollars in operating losses since 2006.

The latest figures come from the Commonwealth Utilities Corporation's rate consultant, Dan Jackson.

Mr Jackson says that the utility might have one year left if it continues to struggle financially.

He says the number one reason for the utility's tenuous state is the government's failure to pay its debts.

Those arrears equate to 61 percent of the agency's operating budget.