Minister of Public Utilities, Barry Padarath, has confirmed the government’s formal rejection of the Regulated Industries Commission (RIC)’s proposed electricity rate increases.
The Minister criticised the previous administration for allowing a TT$7 billion debt between T&TEC and the National Gas Company (NGC) to accumulate.
He also revealed that TT$1.5 billion in outstanding receivables from State Agencies had further crippled T&TEC’s financial standing.
Minister Padarath said the government is actively working to develop a payment plan to address the debt and restore T&TEC’s operational viability.
He noted that while subsidies remain in place, the government will not impose higher rates until T&TEC can guarantee improved service and financial accountability.