Minister of Public Utilities Marvin Gonzales is expecting to be briefed in short order by the Regulated Industries Commission (RIC) on its decision on electricity rates before it is announced to the public later this week.

Speaking to reporters during the boom deployment for the River Plastics Extraction Project on Wednesday, Gonzales said the RIC has completed its work on the proposed electricity-rate hike.

"I should be meeting with the chairman, where I would be officially informed of the decisions made with respect to rate review for T&TEC – a final determination by the RIC – and I expect that once I am consulted on the final determination, they would be speaking to the country," he said.

To date, he said, he has not seen the report or been a part of the review process. "I made a conscious decision to stay away from the process, because I recognise, the Government recognises, that the RIC is an independent body, and once you get the politicians and politics too involved in this process, it makes it absolutely complicated and it does not help members of the public," he said.

However, commenting on the proposal of increasing the rate, Gonzales said with the last hike being some 17 years ago, a change in price is warranted.

"Things have changed dramatically, (like) the cost of maintenance. T&TEC is owing NGC (the National Gas Company) over $5 billion. They cannot simply pay for the gas (they get) to generate electricity.

"If T&TEC does not have a rate increase, then TT is going to be facing, very very soon, not too far from now, the prospects of a utility company that cannot provide adequate and reliable service for electricity."

The RIC has been reviewing a possible increase in electricity rates over the last year, and held public consultations over 12 weeks earlier in 2023.

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