(Kaieteur News) – State grants propped up a significant portion of the Guyana Power and Light Incorporated’s (GPL) finances in 2024, with government subventions totalling $24.8 billion accounting for 31% of the utility’s total revenue, according to the Public Utilities Commission’s (PUC) 2024 Annual Report.

GPL posted total revenue of $79.76 billion in 2024, a year-on-year increase of $10.34 billion or 17.89%, driven primarily by growth in net electricity sales. Residential consumers led demand, accounting for 46% of power sold, while industrial users contributed 22%. Commercial customers, government accounts, and streetlighting made up the remaining 32%.

However, the headline growth figures mask deeper structural vulnerabilities. Electricity tariffs remain insufficient to cover core operational costs, and system losses — a long-standing challenge for the utility — continued to weigh heavily on the company’s bottom line.