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."