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ASPA Chief Financial Officer ...
ASPA Chief Financial Officer Francis Leasiolagi explained to members of the House that the cost of fuel continues to be the most difficult expense that ASPA cannot contain.
He said of all revenues that they receive, fuel costs take up 81 percent, leaving only 19 percent to cover ASPA operations.
added that their monthly fuel bill has jumped from just over $3 million to $5 million over the last year.
According to Francis ...
According to Francis Leasiolagi, ASPA CFO, the electric division has been subsidizing SW operations for over 10 years, due to the fact that the SW rates cover only about 20% of the bills received from T&T and Paramount.
During this week's hearing by the ...
During this week's hearing by the House ASPA/Territorial Energy Office Committee, American Samoa Power Authority board chairman Asaua Fuimaono confirmed that ASPA chief financial officer Francis Leasiolagi is no longer with the utility provider.
There have been unconfirmed reports that Leasiolagi, a former ASG Treasurer, left ASPA more than two weeks ago and ASPA chief executive officer Mike Keyser didn't reply to Samoa News inquiries last week.
Simei Pulu asked if Leasiolagi was still working at ASPA, to which Fuimaono said Leasiolagi has resigned and Susana Faiivae is currently the acting CFO.
There was no other explanation provided by Fuimaono and there were no follow up questions from lawmakers as to why Leasiolagi
was rejected by the Fono in 2005 for a second term as Treasurer, Leasiolagi
remained at the Treasury Department working in various capacities.
He later joined the Governor's Office before he was hired by ASPA.
ASPA chief financial officer ...
ASPA chief financial officer Francis Leasiolagi told the House Budget and Appropriations Committee yesterday during ASPA's budget review that of the total ASPA budget, $55 million is budgeted to cover fuel expenses to run all power engines to provide electricity for the territory.
acknowledged the concerns and stated again that the most difficult cost that ASPA
cannot contain is the cost of fuel.
"It affects everything we do," said the chief financial officer."It takes an enormous amount of the revenues that ASPA
divides its revenues on two main sources: fuel surcharge fee and the base rate.
At the beginning of FY 2008 (which is October 2007), Leasiolagi
said the base rate was about 33 percent while the fuel surcharge accounted for 66 percent of ASPA
continued into the fiscal year, the world market prices continued to climb and the fuel surcharge now is 81 percent, leaving a 19 percent base rate for ASPA
said that their fuel bill used to be $3.2 million a month a year ago, but it continued to climb and now for August alone, it is almost $5 million a month.He
said this puts an "enormous stress on our cash flows while we try to maintain operations."
"We expect October's electricity rate to ...
"We expect October's electricity rate to be 16% less than the September rates and all signs points to another drop in November," ASPA chief financial officer Francis Leasiolagi said yesterday in an ASPA statement.
"The good news is that the September fuel prices have dropped again and those price reductions will be reflected in the October bills," said Leasiolagi