HAGÅTÑA (The Guam Daily Post) — Acting Gov. Josh Tenorio has signed into law another round of the Prugråman Ayuda Para I Taotao-ta Energy Credit Program, now known as Public Law 37-66, granting $100 monthly credits for power billings from January through March.
Sen. William Parkinson authored the measure as Bill 208-37. The bill passed the Guam Legislature unanimously on Friday.
“I know this is going to help all of you out there. I want to thank Sen. Parkinson for putting this legislation together. I’m very happy that the government of Guam is in a financial position to provide direct aid to our people,” Tenorio said in a video statement.
First implemented in 2022, this most recent extension of the power credits marks the fifth implementation of the program. The January Consolidated Revenue and Expenditure Report for the general fund showed about $17.3 million in net unobligated projected revenues, which was more than enough to cover the $15.8 million that Bill 208 needed to fund the extension.
In enacting the measure, Tenorio stated in a letter to the speaker that the power credit program has been one of Guam’s more costly programs, with the most recent extension projected to bring total expenditures up to more than $110 million.
But at the same time, the program has “also proven to be one of our most effective” for extending benefits from excess government revenues to the entire community, Tenorio added.
“Our administration’s implementation of sound fiscal policies and practices has enabled us to stabilize our finances, eliminate our long-standing deficit, upgrade our bond rating and, ultimately, ensure that funding is available to appropriate for impactful measures the energy credit program,” Tenorio stated in his enactment letter.
Edward Pangelinan, from Yona, pays a bill at the GPA/GWA Fadian headquarters on Thursday, Feb. 22, 2024, in Mangilao.
