The tariff changes result from the filing of GPL's Final Return Certificate (FRC) and associated papers with the Public Utilities Commission (PUC) on April 25, 2002, the company said in a statement.

GPL explained that the tariffs determined from the FRC are based on the company's audited accounts for 2001 and are lower than those determined from the Interim Return Certificate (IRC) filed with the Commission in January.

It said compared to 2001 rates, the annualised increase is now calculated as 13.91 per cent, that is 1.98 per cent lower than the rates determined from the IRC.

The IRC determined rates were implemented in two phases, with 8 per cent implemented on bills issued from February 01, 2002 and the balance implemented from April 01, 2002. There was also a fuel rebate applied from April 01, 2002.

Because the rates charged earlier in the year were slightly higher than has now been determined from the FRC, actual rates billed for the remainder of the year will be lower, GPL explained.

According to the power company, this ensures that taking the year as a whole, rates that customers are billed on average correspond to those determined from the FRC.

Therefore, neither customers nor the company gain or lose because of differences between the IRC and the FRC, GPL said, adding that these arrangements are as provided for in GPL's licence.

The statement reported GPL's Chief Executive Officer, Mr. John Lynn as saying the company is committed to ensuring that it conforms to the provisions of the ESRA (the Electricity Sector Reform Act of 1999) and that customers should get the benefit of price reductions wherever possible.

The papers filed on April 25, 2002 were in accordance with the provisions of the ESRA and GPL's licence, the statement said.

It added that the changes to tariffs arising from the filing do not require the approval of the PUC, it added.

GPL said, too, that it is a fully integrated Guyanese electrical energy generation, transmission and distribution utility.

"The management and staff of GPL seek to provide our customers with safe and reliable power while expanding its service to as many new customers as possible. In addition, GPL places great value on our relationship with our customers and is committed to maintaining their trust and support.