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PUC to judge GPL 2011 performance targets

Mar 24, 2012 News

 

–    public invited to meeting Monday

 

The Public Utilities Commission (PUC) this month will be reviewing Guyana Power Light (GPL) Operating Standards and Performance Targets (OSPT) to check if the power company achieved its 2011 performance target set by the Office of the Prime Minister.
A review of the 2011 OSPT of the power company will be done at “Ballroom” – Hotel Tower, Main Street, on Monday, March 26, 2012 at 15:00 hrs. Members of the public are invited to the event to raise pertinent questions relevant to concerns they may have about the power company.
According to the PUC, since there has been an amendment to GPL’s licence on October 4th, 2010, by the end of March 2012, the Commission is mandated to review GPL’s (the Licensee’s) performance for 2011 in comparison with the Operating Standards and Performance Targets, shall determine whether GPL has failed to meet such Operating Standards or Performance Targets in any material respect.
If the Commission finds that GPL has failed to meet the stipulated Operating Standard (OS) or Performance Target (PT) it may impose monetary penalties upon GPL in an amount not to exceed 25 percent of the total dividends payable to the Licensee’s shareholder(s).
In making the determination of a possible monetary penalty, the Commission shall take into account the extent to which GPL has failed to meet its OS or PT and the impact on the Licensee’s customers.
Assuming the GPL has not met certain required standards/targets, the commission will take into account explanations proffered by the company at this public forum.
It was noted that these standards include areas such as generation, transmission and distribution of electricity and includes the technical and non-technical loss reductions. The full areas covered in the OSPT are: Customer Interruptions, Voltage Regulation, Meter Reading of Maximum Demand and Non Maximum Demand consumers based on actual meter readings, Issuing of Maximum and non Maximum Demand bills within stipulated time frames, Accounts receivable- an allowed credit period of no more than 55 days for 2011; Accounts Payable – an allowed credit period of no more than 32 days – System Losses, and average availability.
The Operating Standards and Performance Targets for each one year period (in this instance 2011) constitutes the standard and quality of service that the Licence shall provide, in accordance with Section 25 (2) of the PUC Act; shall therefore be binding upon GPL and shall be enforceable by the Commission.
According to GPL’s corporate governance Code 2010, the Board shall annually evaluate its overall effectiveness and that of the committees of the Board. In carrying out its evaluation, the Board shall have regard to the views expressed by stakeholders, which include the Public Utilities Commission and the general public.
It was further noted that the objective of this evaluation is to increase the overall effectiveness of the Board and specifically to identify and review those areas in which the Board and/or management believe the performance of the Board can be improved. As appropriate, the Board shall meet in an executive session to discuss these assessments.

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