Executive Officer Testimony Details

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Testimony on Privatization

(Tuesday, June 11, 2013)

PREPARED STATEMENT OF HUGO V. HODGE, JR., CEO, V.I. WATER & POWER AUTHORITY TO THE COMMITTEE ON ENERGY AND ENVIRONMENTAL PROTECTION 30TH LEGISLATURE OF THE VIRGN ISLANDS

June 11, 2013

Good day Honorable Chairperson Craig W. Barshinger, honorable members of the Committee on Energy and Environmental Protection, other Senators present, testifiers and the listening and viewing audience. My name is Hugo V. Hodge, Jr., and I am the Executive Director/Chief Executive Officer of the Virgin Islands Water and Power Authority (“VIWAPA” or the “Authority”). I have with me today to assist with this presentation and to answer your questions, the Authority’s Board Chairperson, Attorney Gerald T. Groner; Bond Counsel, Attorney Patricia Goins, of Hawkins, Delafield & Wood, LLP; financial advisor, Mr. David Womack of Rice Financial Products Company, and members of the Authority’s Executive Staff. I thank you for allowing me the opportunity to testify on the two options proposed to privatize the Authority. The options are:

  1. to separate the Virgin Islands Water and Power Authority into two companies one for electric generation and the other for electricity transmission, distribution and consumer retail sales; and
  2. to privatize the entire operations of the Virgin Islands Water and Power Authority.

> Read Complete Statement in PDF Format


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