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RIC suggests 15-126% electricity hike
Posted: Friday, October 20, 2023
RIC suggests 15-126% electricity hike range
All customers of the Trinidad and Tobago Electricity Commission (T&TEC) may be faced with increases to their electricity bills come next year.
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RIC recommends 15-64% increase in residential electricity rates
Based on the kWh consumption, at tier one, customers will pay a tariff of $0.28 per kWh (previously $0.26); at tier two, customers will pay $0.40 per kWh (previously $0.32); at tier three, $0.54 per kWh (previously $0.37); and at tier four, customers will pay $0.68 per kWh.
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George said, "T&TEC is a proliferate waster of money. T&TEC has a history of wasting billions of dollars and yet still, you are going to impose a 15-64 per cent increase on domestic consumers."
He called on the government to intervene and prevent the RIC from implementing the increases.
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The MP said while small businesses may find the commercial rates a bit favourable to them, he asked who was going to protect the consumer?
"Who is going to ensure that businesses who receive the reduction will still not pass on additional costs to customers?"
At the beginning of January 2023, the net asset value of US$5.139 billion.
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