Utilities in focus for 2024

THE YEAR 2023 saw much attention paid to electricity rates and the TT Electricity Commission (T&TEC), but all three utilities will come even more sharply into focus in 2024.

Having given consumers a reprieve for Christmas, Cabinet will come to a final determination on the increases recommended by the Regulated Industries Commission (RIC) in the new year, according to a timeline set out by Marvin Gonzales in November.

However, the Minister of Public Utilities this month revealed the Government will also unveil its plan for the restructuring of another utility which is subject to RIC review, the Water and Sewerage Authority (WASA). A shakeup of the leadership and management of WASA will be announced in January.

The RIC commenced a rate review of WASA exactly three years ago, around the same time as it announced its review of T&TEC rates, the latter of which culminated in the announcement in October of recommendations for stiff increases.

As if to pave the way for what is to come, Mr Gonzales this month has been on something of a publicity tour, underlining all the ways the State supports consumers, particularly those less able to pay out.

Days before Christmas, the minister distributed grant letters for the Residential Electrification Assistance Programme, the Water Tank Programme and the Electrification Programme and noted the State has spent about $34 million to help 13,600 citizens with water and electricity bills. At the same time, he noted utility rates, even if increased, remain relatively low when compared to other countries.

The minister also this month attended the commissioning of the newly refurbished Morris Marshall Storage Reservoir (formerly Picton Tanks) in Laventille and opened a refurbished booster station at Diego Martin, where he spoke of a $400,000 investment so that people could get water. WASA officials have in the last weeks spoken of big plans to tackle extreme weather in 2024.

The message: citizens have a lot to be grateful for.

That, however, is unlikely to be the overall sentiment as it relates to electricity increases and potential increases in water bills.

Meanwhile, though Mr Gonzales last week Tuesday in the Senate stated the Government currently has no plans to privatise the state-owned Telecommunications Services of TT (TSTT), it is clear changes can be expected at that utility in 2024 as well given the pending probe into a serious cyber-security breach which precipitated the departure of senior management figures.

Whatever changes are to come, they will fall squarely in the buildup to the next general election due in 2025. That fact might temper the approach of the Cabinet. The need to balance pricing changes with legal reform of the way in which these reviews are conducted so that they are not so jarring should as well.