Blaming the cut of a $5.2 billion government subsidy and rising fuel costs, the Guyana Power and Light yesterday announced that it has filed an application to increase tariffs by 26.7% effective from last month and the company’s Board of Directors is already planning its implementation.
GPL, in a statement yesterday, said that on May 15, the company submitted its Final Return Certificate (FRC) to the Public Utilities Commis-sion (PUC) for the increase. “GPL regrets that as a result of funding denied to them, it has no other option but to move in the direction to raise revenue to remain financially viable,” it said. “The new rates have not taken effect but the GPL Board is actively engaged in planning its implementation,” it added.
In light of the cut of the subsidy during the consideration of the budget in April, GPL’s management had
