
Click to view full size
The announcement by National Gas Company (NGC) of a proposed 70 to 80 per cent hike in the price of natural gas to its light industrial and commercial customers (LICs) has been the subject of much debate over the last three weeks.
Various statements from Government sources suggest that the rationale for the increase is to sustain NGC’s profitability. In making the announcement, the NGC chairman, Gerald Ramdeen noted that this policy—of highly subsidised gas prices sold below acquisition costs, without any evidence of savings going to customers, in existence for over a decade—is financially unsustainable for NGC.
Prime Minister Kamla Persad-Bissessar said, “NGC is not a charity. NGC cannot take a loss to make privately owned companies profitable.”
The portable companion to gazettE. Get notifications, track read articles, and more. The latest news from Trinidad and Tobago, in one place.
Related stories
See articles related to "For sustainability, NGC should target T&TEC not manufacturers"