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PUC hears net‑metering update and GWA second‑quarter financial review; no substantive votes taken
Summary
The commission received an informational net‑metering report (roughly 2,953 solar customers, about 6% of an implied 52,000 base) and a GWA second‑quarter financial update highlighting a healthy cash position and a reported net income figure before regulatory adjustments.
At the meeting the Guam Public Utilities Commission heard two informational items: a GPA net‑metering update and GWA’s second‑quarter financial review.
On net metering, staff reported about 2,953 solar customers — roughly 6% of an implied 52,000 customer base cited in the discussion — and noted the program’s effect on base‑rate revenue. Commissioners asked how the revenue loss is calculated; staff described using average usage applied to participating customer counts and said the commission will monitor the docket and may reopen it if needed.
Doris presented the GWA financial review for the six‑month period and reported a comfortable cash position with several maturing time‑certificate investments and an indicated net income around $446,000; staff said regulatory adjustments would lower that to about $412,000. The presentation said repair and capital work are proceeding and that final year‑end accounting will better define available excess cash and reserves.
No formal votes were recorded on these informational items; the meeting concluded after a brief discussion of administrative billing and a motion to adjourn.
