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GTUC demands drop in electricity rates

Jan 30, 2009 News

As the price of fuel remains low, the Guyana Trades Union Congress is calling for an immediate reduction in the rate of electricity.
Speaking with the media Wednesday, Acting General Secretary, Norris Witter, said that other countries within Caricom such as Barbados and Jamaica have adjusted their tariffs to reflect the drop in fuel prices.
“The working people must not continue to pay for the inefficiency of GPL.”
During a recent interview with Kaieteur News, a Guyana Power and Light official said that it is too early to adjust any tariff rates for electricity.
Like Witter, Alliance For Change Chairman, Khemraj Ramjattan, has adopted the position that since the price of oil on the world market has dropped to below US$50 per barrel, the electricity rates should reflect that reduction.
Ramjattan’s position was prompted by the announcement by Prime Minister Samuel Hinds that if the price were to fall below US$50 per barrel and remain below that mark, a decrease in electricity rates would be possible.
GPL is currently operating at just about break-even, when one considers its revenue against the total cost of operations, with fuel supply being one of the largest expenses, according to the official.
Last year a total cost of operations far outweighed the revenue generated which prompted the government to inject more than $3B into the company.
Another factor compounding the situation is the fact that the GPL is faced with 33 per cent technical and commercial losses.
The People’s National Congress Reform also called for an immediate reduction in the electricity rates.
The reduction of electricity prices, the PNCR had stated, will have a positive ripple effect on the country, in that there would be increased economic activity, resulting in growth of the economy, with increased revenue for the State.
This, the party said, would also give a little more to the average Guyanese, in that it would be additional money in hand to spend on other needs, such as food.

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