The GPL Chairman should say what the actual figure is

Dear Editor, Chairman of GPL, coalition financier Robert Badal, disparaged former President and Leader of the Opposition, Dr Bharrat Jagdeo. He was alluding to Dr Jagdeo’s contention that GPL has accumulated the sum of an estimated $20 billion “… because they [GPL] did not lower the price of electricity when the price of fuel fell on the world market” [proportionate to the drop in fuel prices].”

Dr Jagdeo asserted at a recent press conference that “… They [GPL] have collected from ordinary citizens, and our businessmen, some $20 billion more than they should have collected in two years from us, and it is sitting in an account at GPL.” ‘Some’ being the operative word, because the figure Dr Jagdeo quoted was estimated from various factors.

Mr Badal’s denouncement of Dr Jagdeo’s statement begs the question of why he did not correct Dr Jagdeo by supplying the actual figure, given his admission that “… GPL has achieved a significant improvement in its financial position.” So then why disdainfully dismiss our expectations of accountability by not providing us with the real figure?

It is quite interesting that GPL’s Chairman saw it necessary to debunk the Opposition Leader’s claim, while notably remaining silent on a number of other GPL-related issues.

The Chairman should tell us when will this promised improvement in the delivery of reliable electricity to households and businesses be effected? We are tired of the blackouts, the power interruptions and the voltage fluctuations. Why is he silent on the issue of the award of a tender to a contractor for more than $1 billion above the lowest bid received? Remember he promised good governance, transparency and accountability. Why is he not forthcoming on the actual acquisition costs of electricity to the national grid from the proposed Hope Wind Farm Project? Does this make good business sense?

If he is to retain any credibility he must inform the public of the acquisition cost of fuel today, as compared to prior prices, and the actual cost of generating electricity today. Then he should give the reason why rates have not been adjusted accordingly, subsequent to the last rebate.

He should publicly declare the amount of money being deposited on a monthly basis to the ‘Foregone Revenue Account’ of GPL.

The customers of GPL await his response.

Yours faithfully, Bishop J Edghill, MP PPP/C