President Dr. Irfaan Ali has assured the nation that additional power will be added to the grid by mid-December to accommodate the heightened demand for electricity during the Christmas season.
The President explained that the recent spate of power outages is attributed to an increased demand for electricity, which now stands at 185 megawatts.
However, the Guyana Power and Light (GPL) currently has a capacity of only around 175 megawatts, resulting in a deficit of 10 megawatts.
Since the PPP/C Government took office, major electricity consumers who were self-generating are now reconnecting to the national grid, as the government has been subsidizing electricity costs.
This has contributed to the surge in electricity consumption.
President Ali disclosed that the government has been subsidizing electricity generation by over 100 million US dollars, providing large companies with a savings of 9 US dollars per kilowatt of electricity.
Over a three-year period, demand for electricity has surged by 75 megawatts, rising from 110 megawatts in 2020 to the current 185 megawatts.
To address the immediate issue, President Ali announced temporary increases in electricity prices during peak hours (1 pm to 3 pm and 6 pm to 10 pm), affecting large electricity-consuming entities.
These entities are also given the option to use their own power supply systems during these peak hours.
This measure will remain in effect until GPL receives additional power generating capacity in mid-December.
President Ali also criticized the former APNU+AFC Coalition administration for not investing adequately in the energy sector, particularly noting the abandonment of the 165-megawatt Amaila Falls hydropower plant project.
He stated that bids for this project will soon be released.
Additionally, the Gas-to-Energy project, scheduled to commence by the end of 2024, promises to supply power at a cost of 5 US cents per kilowatt hour, effectively halving consumer electricity costs.