After four years, CUC can decide whether to continue the contract for another two years, he added.
The six-year, $360 million contract between CUC and Mobil ended on May 1 this year.
CUC pays Mobil depending on the fuel usage of the public utility.
“We pay for what we order,” Camacho said, adding that CUC needs 20 million U.S. gallons of fuel annually for its power generation facilities on Saipan, Tinian, and Rota.
Camacho said CUC has already resolved its concern with Mobil regarding advanced information about the overall fuel cost so CUC can determine its total kilowatt hour rate.