The Virgin Islands Water and Power Authority (WAPA) petitioned the Public Service Commission (PSC) to raise the Levelized Energy Adjustment Clause (LEAC) or the territory will experience rolling blackouts. Jean P. Greaux, Jr., Director of Corporate Communications elaborates more on the issue.
Yesterday, December 17, 2019, the Senate Finance Committee moved seven bills to amend laws dealing with issues of finance. One bill would give the Virgin Islands National Guard equal pay as counter parts in the Unite States of America, and insurance; moved some responsibilities from Property and Procurement to Housing Finance Authority; regulate Government credit cards; amnesty period for delinquent taxes; cameras for bin sites; develop a Blue economy study; and a mid-year budget report. The bills now go to the Rules Judiciary for further consideration.
The Virgin Islands Banking Board has approved the application of Oriental Bank to do business in the territory. Oriental Bank purchased Scotia Bank operations the U.S Virgin Islands and Puerto Rico in July. The approval is the final step conducted by the board according to the Lieutenant Governor's Office. Oriental Bank will operate two USVI branch locations to include Christiansted and Altona in the St. Thomas/St. John district. Oriental Bank will also operate 15 automated teller machines throughout the territory.