ST. EUSTATIUS--Utilities company STUCO NV said it has taken note of “defamatory attacks” lodged against its management, and by extension the supervisory board of directors, by Island Council Member Clyde van Putten in an Island Council meeting.
During a meeting of the Island Council’s Central Committee and in the media, Van Putten accused management of STUCO and its chief executive officer Fred Cuvalay of engagement in “questionable activities”, in particular the use of a company vehicle by Cuvalay’s partner.
Some Island Council members were upset over the fact that Cuvalay had not honoured the council’s invitation to attend the meeting to answer to the concerns that were raised. Van Putten had also requested the supervisory board and management of STUCO to attend the Island Council meeting to answer questions.
STUCO only has one shareholder. The Public Entity St. Eustatius is a 100-per-cent owner of the company, which is operated, managed and supervised in accordance with the Corporate Governance Law WEDBES, and by its articles of incorporation and applicable law in St. Eustatius.
“In every detail of operations and supervision the applicable laws and regulations, company policies, budgets, agreements and arrangements are fully respected,” STUCO said in response to the allegations made by the councilman for Progressive Labour Party (PLP).
Following these laws and regulations, STUCO management reports to the supervisory board of directors and the supervisory board reports frequently to the shareholder, including annual audits.
“Insinuating disrespect, mismanagement or illegal use of company property or offered facilities have no merit and are unsupported. At no time was STUCO NV placed under a financial review for mismanagement by its director. Statements of that nature are false and defamatory and disregard the actual facts,” the utilities company said.
The financial review executed in 2019, in light of STUCO’s subsidy request to lower the utility rates for the people of Statia, was publicised on the Dutch government’s website. “The report is clear both on intent and findings, which supported the subsidies to be granted. Any portrayal of this process otherwise is misinformation.”
While STUCO said it could understand frustration among its customers due to recent electricity price increases, it said it should be noted that these price increases are the result of global fuel price increases.
“STUCO’s solar production has dampened the effect of global fuel price increases. This is another reason to continue STUCO’s efforts to reduce fossil fuel use for electricity production,” the company said.
“No interest is served by the misinformation currently being disseminated, the reason the supervisory board of directors and management of STUCO NV hope that the interest of the people of St. Eustatius shall persevere over political agendas. STUCO NV remains committed to St. Eustatius and shall continue, together with the support of the government of St. Eustatius and the government of the Netherlands, to further develop sustainable and affordable supply of electricity and water to all.”
