Guyana’s President Irfaan Ali says the multi-billion dollar gas to energy project will provide for cheaper, more reliable electricity to the country and that the project has gone through immense levels of scrutiny and is based on the best possible existing information and data.
Ali told a ceremony at State House on Thursday that the project could slash electricity costs by at least 50 per cent, with massive cuts in fuel prices and electricity output by producing companies.
With an estimated 220,000 households connected to the grid, and with the Guyana Power and Light Inc. (GPL) raking in almost GUY$40 billion in revenue, the establishment of the project will cut revenues in half, returning GUY$20 billion into the pockets of Guyanese.
President Ali said that this too, will be widely appreciated by the private sector, as tremendous benefits will emanate.
