Business

Hodge Tells U.S. Senate Committee On Energy 'Tangible Relief Is Finally On The Horizon' For Virgin Islands

At the invitation of the chairman of the U.S. Senate Committee on Energy and Natural Resources, Virgin Islands Water and Power Authority Executive Director Hugo V. Hodge, Jr. appeared before the committee Tuesday to offer testimony on remote and isolated energy systems, including energy and infrastructure challenges and opportunities, according to a press release WAPA issued today. Hodge provided an overview of WAPA’s challenges being significantly dependent on fuel oil in generating electricity and outlined numerous initiatives now underway to bring about relief to the utility’s customers. “While the territory has received some relief in recent months due to the recent decline in oil prices, which has reduced the current electric rate to 32 cent per kilowatt hour for residential customers, and 35 cents per kilowatt hour for commercial customers, analysts are divided on how long this respite from high fuel prices will last.  One thing is certain however, prices will elevate again, and...