A “Project Steering Committee” has been created to oversee Palau Public Utilities Corporation’s “Reform Program through to fruition”, states Executive Order 449 establishing the committee.
Part of the $10 million dollar loan from Asian Development Bank to PPUC is allocated to improving tariff reforms, corporate governance, financial management and corporate transparency of PPUC.
The committee under the Executive Order is tasked with providing PPUC with “strategic direction, guidance, and oversight of the project” to meet its Reform Program mandates.
The committee is made up of Minister of Finance or his designee, Minister of Public Infrastructure and Industries, Director of Palau Energy Administration, CEO of PPUC, Chairman of HOD Energy, Communication & Transportation and Chairman of Senate Committee on Energy, Public Utilities & Telecommunication.
The Executive Order said that PPUC “took on heavy financial losses” as result of tariff freeze that affected its ability to generate revenue to cover its operations, maintenance and debt payment.
Furthermore, it said that it needs to “improve its financial management and credit quality through tariff reforms, enhanced revenue management for electricity and water, improvement of credit and scaled up renewable energy investment.”
It is urged to meet as often as necessary to address the work of the committee. (By: L.N. Reklai)

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