Over $900M more for Linden, Lethem power companies
More than $927 million is being sought to further support the Linden Electricity Company in Region 10, and the Lethem Power Company, in Region Nine as government focuses on the provision of stable electricity.
Senior Minister in the Office of the President with Responsibility for Finance, Dr. Ashni Singh said that the amounts provided are to offset the increase in fuel prices and consumption, as well as the increased cost of delivery.
He made the statement during Wednesday’s sitting of the National Assembly as it debated the government’s request for $61 billion supplementary funding, which is expected to finance additional development priorities.
Some $663 million is being sought for the Linden Electricity Company and over $264 million is expected to support the Lethem Power Company.
“The additional appropriations that are being sought reflect additional costs that are being incurred as a result of both increased consumption, increased fuel costs, and additional support for things like maintenance at these two companies to ensure that both Linden and Lethem continue to receive electricity as we have committed to delivering to them,” he explained.
These sums represent a current best estimate of the companies’ additional financial requirements for the remainder of the year.
“We will remain closely engaged with the respective companies to ensure that they continue to manage their operations efficiently. We will also remain closely engaged with the communities,” the minister assured.
While pointing out that these allocations are not directly related to a possible reduction in the rate of electricity, the finance minister noted that government continues to invest heavily in improving electricity production and generation.
He highlighted several ongoing projects aimed at achieving this including the Gas to Energy Project, the rehabilitation of the Moco Moco Hydropower plant, and the installation of solar farms in Linden, in keeping with the Low Carbon Development Strategy.
“The task of improving increasing electricity supply and improving the quality of that electricity and the cost, is a task that government has applied itself to across Guyana, including Regions Nine and Ten,” the senior minister told the House.
These funds for the Linden Electricity Company and the Lethem Power Company form part of a $5, 093, 359 500 amount being sought for the Office of the Prime Minister to advance power generation and data management activities.
The allocation is also expected to fund the provision of additional resources to support the Gas to Power project, as well as to support the expanded work programme of the National Data Management Authority (NDMA).