THE Guyana Power and Light (GPL) said yesterday that the 10 percent reduction in electricity charges recently announced by President Donald Ramotar is applicable to residential, industrial and commercial tariffs, and that the reduction will result in an estimated $3B being passed on to consumers annually, through lower electricity rates.

The following is an excerpt of a statement issued yesterday, detailing the specifics of the rebate:

“The 10% fuel rebate is being applied to the Residential, Commercial & Industrial tarrifs. Consumers whose billing cycle begin in the latter part of February and ends in March will benefit from the reduction on their entire consumption for this period. GPL will therefore, not prorate consumption when applying the fuel rebate. The rebate is in keeping with the fall in the world market fuel prices, resulting in the decision to reduce tariff rates by 10%.

“Consumers should be aware that the 10% rebate is being applied to energy charges and not fixed charges.
This 10% fuel rebate across all tariffs is estimated to pass on to consumers annually GY $3 Billion through the reduction in their electricity bills. The new Net Rates can be seen in the table below:

“This reaffirms GPL’s continued commitment in providing quality electricity supply at fair costs to our valued customers.”