Electricity utility, the Guyana Power and Light (GPL) company says that although it pays less for fuel at the moment, it has no surplus monies and its focus this year will be on fixing its equipment and not on lowering domestic power tariffs.
“We thought it would have been irresponsible if we further lowered any tariffs and then have to come to central government to get finance to reequip GPL which I think will be about $75 billion,” Minister of Public Infrastructure David Patterson explained at a press conference last Thursday. At the forum, it was disclosed that power losses remain high.
Acknowledging that fuel prices have dropped by more than half on the world market, Patterson said GPL has no surplus cash and the monies saved will be channelled to fix the company’s equipment. “The price has dropped. We have examined the accounts of GPL, what is
