PALAU SUBSIDY BRINGS POWER BILLS DOWN

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$3 million subsidy taken from Taiwan grant

KOROR, Palau (Palau Horizon, Oct. 6, 2008) — Palau Public Utilities Corp. customers have begun to see significant changes in their monthly power bills.

According to PPUC officials, pursuant to the power subsidy law, customers who consume 500 or less kilowatt-hours of power per month are eligible for the subsidy.

After PPUC received subsidy funding in early September, it adjusted customer billings for the month.

Customers who are subsidized will still pay the power rates set in May 2008 or prior to the rate increase.

PPUC said it is now readjusting the billings for October so that appropriate subsidies will be provided to customers who qualified in July and August.

The subsidy law, which aims to benefit low-income residents and small businesses, provided PPUC $3 million after it raised its power rate by 33 percent for homes and 47 percent for businesses.

The $3 million will come from the $8 million airport rehabilitation loan from Taiwan.

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