Latest update January 9th, 2025 2:14 AM
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- ‘Our Stabroek Block estimate is higher than Exxon’s 11B barrels figure’ – Hess CEO
- Exxon to focus on exploring and appraising more of Stabroek Block before licence expires in 2027 – Routledge
- ‘All hell will break out’ if Gaza hostages aren’t released’—Trump warns
- Chinese company sitting on US$16B worth of gold at Guyana’s Aurora Gold Mine
- Guyana records 60% increase in workplace deaths in 2024 – Labour Minister
GPL should be breaking even and not racking up losses
DEAR EDITOR,
Electricity cost in the UK is about 14.5p per kWh (about $36.5 per kWh). While in Guyana, it is about $52.5 per kWh. When we take into account the loss due to electricity theft, defective meters and line losses (which account for about 30%); we see that the electricity cost is roughly the same as the commercial losses is being passed onto consumers in Guyana (70% of $52.5 is about $36.75).
What this mean is that GPL should be breaking even and not racking up losses! Clearly, something is wrong in the operation of GPL when it is racking up losses as well as when there is numerous blackouts.
Customers not paying their bills, this is indicative of them not having huge disposable income, which is symptomatic of the Guyana economy not performing well.
Other indication of the Guyana economy not performing well is the rise in the non-performing loans rate.
Yours faithfully,
Sean Ori
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