It said this decision was taken by its Board of Directors at a meeting Tuesday.

The Board also requested shareholders to meet as soon as practical to discuss the future of the business, the power company said in a statement.

According to the statement, Chief Executive Officer of GPL, Mr. John Lynn, commented that "implementation of the new rates is a key requirement to enable GPL to raise the necessary loans to fund the development and service improvement programmes demanded by our customers."

He added, however, that the decision of the Board "provides further time for customers to adjust to the new rates".

The eight per cent increase applied to bills issued from February 1, 2002 is now to be followed by full implementation of the rates determined in accordance with the provisions of the Electricity Sector Reform Act (ESRA) and the Licence for bills issued from April 1, 2002 - rather than March 1, 2002 as previously announced, it said.

"Guyana Power and Light is a fully integrated electrical energy generation, transmission and distribution utility (and) GPL seeks to provide its customers with reliable and fair priced power and further seeks to expand its service to as many new customers as possible," it said.

The statement added, "GPL will take a leading role in economic development and the social wellbeing in Guyana."

The Government has asked the shareholders of GPL to delay implementing the hikes until a review of its operations.

The watchdog Public Utilities Commission (PUC) has advised all GPL customers to check on all bills currently rendered or issued to them for the consumption of electricity.

They should ensure that the present meter reading, as reflected in the bill, corresponds with the actual figures shown or displayed on the meter at the time of the reading by the employees of GPL, it said.

Consumers are also asked to ensure that the rates charged are the rates in existence at the data of the consumption of electricity and not at the rate recently published by GPL, which attracts a 15.89% increase.

The commission, in a press release said it felt constrained to issue this advisory due to the complaints it has received that the bills show higher meter readings than the actual consumption. It said complaints have also been received that bills for the consumption of electricity for the period prior to the announced data of the increase, are calculated at the new rate which attracts the 15.89% increase when that should not be so.

The PUC said GPL has been written about these matters and it is expected that these irregular practices will cease forthwith.

It said it is in the meantime asking consumers to be vigilant and to report any irregularity immediately to the commission.

The PUC, on its own motion, has fixed a public hearing this month to conduct investigations into the operation and standards of service provided by GPL.

In a letter to the power company, it stated that Section 25 of the PUC Act No. 10 of 1999 provides for the company to maintain its property and equipment in such condition as to enable it to provide, and shall make reasonable effort to provide, service to the public in all respects, safe, adequate, efficient and reasonable.

It said the company shall also make all such repairs, changes, improvements and so on to such service that shall be necessary or proper for the accommodation and convenience of the public.

The commission said that in this regard, it will be holding a hearing on March 12 from 15:00 hrs at the Hotel Tower in Georgetown where GPL will be entitled to present its case.