Minister, RIC mum on electricity rate change

PAULA LINDO

PUBLIC Utilities Minister Marvin Gonzales and the Regulated Industries Commission (RIC) remain tight-lipped as to the matters which are holding up Cabinet’s deliberations on the proposed changes in electricity rates.

This despite the minister’s announcement that Cabinet would made a decision at the end of the month.

Gonzales made the statement to media at the commissioning ceremony for Las Lomas Well no 12, Crystal Drive, off the Caroni Arena Road, Las Lomas No 1, on April 6.

“The recommendations of the RIC are still with a sub-committee of the Cabinet and I anticipate by the end of this month, the Cabinet will be making a decision on that and the country will be made aware of the outcome of our decision.

“We’ve asked TTEC and RIC to submit further information as part of our deliberation at the sub-committee. The matter has not gone back to the RIC, it’s a matter of seeking clarification on some of the recommendations that came from the independent regulated industry.”

Asked by Newsday whether he could say what particular issues came up for clarification, Gonzales said “it will be highly inappropriate of me to disclose the content of discussions on a matter that is before the Cabinet or a working committee of the Cabinet.”

When asked to elaborate on the issues raised by the Cabinet sub-committee, RIC corporate communications manager Driselle Ramjohn said,

“The minister stated the discussions are with Cabinet and a sub-committee and it is our understanding that they are the bodies authorised to disseminate information to the public on matters before them.”

The report went before Cabinet in November 2023.

Depending on usage, the new rates for 2023/24 will increase between 15 and 64 per cent for residential customers.

Rates will also increase between 37 and 51 per cent for small businesses (B1) and ten and 12 per cent for larger businesses (B2), paying commercial rates. There will also be an increase of between 58 and 72 per cent for class D industrial customers, and 119 and 126 per cent for class E, industrial customers.

The commission has also created a C class for industrial customers – these being high-density users like server farms and data or cryptocurrency mining.

These changes will also see customers being billed monthly instead of every two months.

“The RIC, in order to encourage customers to migrate to e-billing requires that TTEC, at the time of the first annual tariff adjustment, submit a cost-based proposal for a differential customer charge for those customers who choose to receive a paper bill.”

Other charges would include $246 for change and/or repositioning of a meter, a $150 charge for disconnection for non-payment, and a $150 charge for reconnection after disconnection for non-payment, among others.