NWC to sell billions in debt to collection agency | New


The National Water Commission (NWC) intends to pool $ 15 billion to $ 20 billion of its debt to sell it to a debt collection agency.

In a quarterly press conference today, NWC Chairman Mark Barnett said the debt would be sold at a reduced rate.

“There are no details in terms of customer class. It will include housing, condominiums and businesses [customers]. Obviously, the government’s accounts will not be part of it, ”he said.

For the period May to July 2021, NWC targeted 20,747 disconnect accounts, valued at $ 1.92 billion.

The utility company disconnected 13,137 customers, which equates to $ 1.6 billion.

Of those customers, 9,122 reconnected, bringing in $ 384 million for the NWC.

“Based on our aggressive approach to fundraising, we have seen a positive development in our revenues over the past three to four months. We’ve actually seen about a 10% increase in our monthly revenue from these campaigns that we’re continuing, ”Barnett said.

The NWC chairman estimated that the additional days of no movement announced by Prime Minister Andrew Holness last night will have an impact on the agency’s disconnection campaign.

“On the days of no movement, when we won’t do any disconnection, certainly on the days of movement, we will come to you once you don’t pay,” he said.

Meanwhile, on the storm damage issue, Tropical Storm Grace cost the NWC $ 26 million.

Some $ 18 million was allocated for remedial work at the Aviary wastewater treatment plant in Old Harbor, St Catherine, while $ 2 million was spent to repair a damaged pipeline in Yallahs, St Thomas.

The rest was spent on heavy siltation, blocked pipes, fallen trees and debris removal.

About 210 facilities were affected across the island by Tropical Storm Grace and, as of September 1, 208 of the facilities had been restored while two remained unserviceable.

And Tropical Storm Ida affected about 60 facilities, 50 of which have since been restored.

– Judana Murphy

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