T&TEC & WASA rate increase coming?

[redmanjp]

im seeing the balance at 0 so it went through.

good thing i get ebills cuz if i waited till ttpost send it i would be in candlelight.

You still got paper bills?
TTEC stopped sending paper bills to me since 2018, WASA around the same time and Flow since the noughties when they introduced the fee for paper bills.

Only TSTT still sent paper bills up to when I cut my service in 2022. Their bills would be on average 4-5 months old by the time it reached.

nah as i said ebills- i signed up for that i think within the 1st year they introduced it we were now moving in and didn't want to bother with physical bills because we didnt even have mail delivery at the time
4-5 months old bai

[screwbash]

im seeing the balance at 0 so it went through.

good thing i get ebills cuz if i waited till ttpost send it i would be in candlelight.

nah as far as i see your name hadda be of east indian origin to get disconnected. when you have big shot name yuh safe or name like williams, hernandez, thomas. ali etc you safe unlike ramsaran, maharaj, persad they coming day or night disconnect from pole if they cant get in the yard.

[mero]

But how Ali safe and Persad and Maharaj eh safe?

[Habit7]

Even Venes get through.

[mkhitaryan888]

Business Guardian cover story for today is out: RIC approves $6B in questionable costs for T&TEC

https://www.guardian.co.tt/business/ric-approves-6b-in-questionable-costs-for-ttec-6.2.1985085.3fd5495e43

Copy and paste below:

Erik Lavoie

The Regulated Industries Commission (RIC) approved expenditure for the Trinidad and Tobago Electricity Commission (T&TEC) that is around $6 billion higher than historically justified between 2024 and 2028. If the Cabinet approves the final determination as it stands, this $6 billion in additional expenditure could be passed directly to electricity consumers over the next five years.

The $6 billion in questionable expenditure is attributed to the RIC’s decision to approve a 71 per cent increase in T&TEC’s total generation costs between 2021 and 2024.

The two components of total generation costs, fuel costs and conversion costs are set to increase by 63 per cent and 80 per cent, respectively.

In 2021, the cost of fuel to T&TEC was $1.08 billion. The RIC approved fuel cost for T&TEC in 2024 of $1.75 billion, which is an increase of 63 per cent.

T&TEC’s cost of conversion in 2021 was $983 million. The RIC approved conversion cost for T&TEC in 2024 of $1.77 billion. That is an increase of 80 per cent.

Historical trends in generation costs and the rigid nature of these costs raise questions about the justification of such an increase.

For comparison, the actual increase in total generation costs between 2012 and 2019, according to T&TEC, was 5.3 per cent, an annualised increase of less than 1 per cent over the eight-year period. T&TEC’s total generation costs in 2012 was $1.94 billion and in 2019, it was $2.05 billion.

This revelation follows an April 4, 2024 Business Guardian investigation, which estimated a 124 per cent increase in electricity bills for the median household (470 kWh/month) by 2028, if the Government implements the final determination as written.

Using the RIC’s projections for demand, future generation costs should only rise by less than 15 per cent. In this case, electricity bills for the median household would still go up, but only by 78 per cent by 2028, compared to a 124 per cent increase under a 71 per cent increase in generation costs by 2024. This would save the median household approximately $864 annually by 2028.

63% increase in fuel costs?

T&TEC is responsible for the purchase of fuel, in the form of natural gas, to be used by the three independent power producers (IPPs): Trinidad Generation Unlimited, which is 100 per cent state owned, PowerGen, 51 per cent state owned and Trinity Power, a privately owned company.

The National Gas Company (NGC) sells the fuel to T&TEC at a subsidised rate that increases by 3 per cent annually. The RIC has approved fuel costs for 2023-2024 that are 63 per cent higher than T&TEC’s reported fuel costs in 2021.

Despite the RIC’s approval for increased costs, T&TEC has actually reported declining fuel expenses since 2012, according to the RIC’s final determination. This trend is attributed to two main factors: increased generation from power plants with fuel-efficient combined cycle gas turbines (CCGT) and stagnant electricity demand since 2012. These elements combined have softened the effect of the annual 3 per cent escalation in natural gas prices supplied by the NGC to T&TEC.

Consequently, it is unclear what justifies the significant surge in T&TEC’s fuel costs.

80% increase in conversion costs?

T&TEC also pays IPPs for the conversion of the fuel it purchases into electricity. The RIC has approved conversion costs for 2023-2024 that are 80 per cent greater than T&TEC’s conversion costs in 2021.

Over the 2012 to 2021 period, the average growth rate in conversion costs was 2.3 per cent annually.

Approximately 95 per cent of T&TEC’s conversion costs originate from capacity costs, where T&TEC pays for the availability of generation potential instead of the actual quantity of electricity produced.

Each IPP has a formula used in calculating capacity costs. The three main variables in these equations influencing the capacity cost paid by T&TEC are the United States’ (US) Consumer Price Index (CPI) inflation rate, amount of contracted capacity, and the per kW capacity rate.

US CPI inflation, according to the US Federal Reserve, will range between 2.0 per cent and 2.6 per cent up to 2026.

The amount of contracted capacity is unlikely to change significantly, as the projected total increase in electricity consumption between 2021 and 2024 is expected to be between 1.5 and 3 per cent annually, according to the RIC.

This leaves the capacity rate charged as the only variable that could largely be responsible for the 80 per cent increase. T&TEC has not notified the public of any changes to existing power purchase agreements (PPA) between itself and the IPPs. The earliest that a PPA is expected to conclude is in 2029, according to a joint select committee hearing into T&TEC’s management practices on May 5, 2021.

RIC’s justification of 71% increase to T&TEC

Guardian Media contacted the RIC for the justifications behind the 71 per cent increase in generation costs for 2024:

The RIC was asked: “What are the justifications for the 63 per cent increase in fuel costs and 80 per cent increase in conversion costs?”

Here was the RIC’s response:

“Over the period 2017 to 2021, the fluctuations in the actual fuel cost and the declining trend in the conversion cost were due to falling demand, this being especially negatively affected during the period of the Covid-19 pandemic. This makes the comparison and thus differential of the cost projections in 2023 to the actual costs in 2021 very large.”

At first glance, this may seem like a proper justification, given the disruptive impacts of the COVID-19 pandemic.

However, a deeper investigation into aggregate electricity consumption between 2021 and the RIC’s 2024 forecast reveals a crucial problem in the RIC’s argument:

In 2021, total electricity consumption in T&T was 8,268 gigawatt-hours (GWh). The RIC’s own forecast for electricity consumption in 2024 is 8,805 GWh. This means that between 2021 and 2024, according to the RIC’s own projection, electricity consumption will increase 6.5 per cent.

A 6.5 per cent increase in demand, once considering increases in fuel costs and capacity costs, would correspond to an increase in total generation costs of between 13 to 19 per cent, a range that is nowhere near the 71 per cent approved by the RIC.

The RIC’s justification raises questions on whether T&TEC submitted inflated generation costs that were not properly scrutinised by the RIC.

The cost to consumers

With a 71 per cent increase in generation costs, the average tariff to be charged by T&TEC will need to increase by 106 per cent by 2028.

Assuming annual increases of 3 per cent in fuel costs, 2.5 per cent in US CPI inflation, and 2.5 per cent in electricity demand, alongside a conservative 0.5 per cent annual efficiency improvement rate, T&TEC would only need to raise its average tariff by around 64 per cent. This is an average tariff increase that is 40 per cent lower than the RIC’s approved average tariff increase.

Lack of transparency is concerning

Typically, when proposing a substantial increase in costs from recent trends, regulatory bodies extensively detail the reasons behind their decisions. However, the RIC’s 2023-2028 final determination lacks justification from the RIC for the substantial rise in generation costs.

The final determination for 2023-2028 marks a departure from previous practices like those observed in the 2006-2011 Final Determination, where the RIC provided comprehensive breakdowns and justifications for cost adjustments.

[bluefete]

Nice going. Shaft the population until it goes past hurting.

Great is the PNM.

[VexXx Dogg]

Time to taper off natgas electricity and increase solar megafarms. It's not like we eh have good land that can be used

[redmanjp]

^also subsidize or offer rebates for home solar installations

[zoom rader]

Nice going. Shaft the population until it goes past hurting.

Great is the PNM.

They will stil vote PNM

TTEC should bust price in everybody MC

Stupid jack arse country

[maj. tom]

https://www.facebook.com/kishore.ramdath/posts/pfbid0cmAmhkMXSV7VknL28X6jcqHXbeARrSasbecnWcW2P3ZtqeEtmhibMrxPpGLmNvDdl

Seeing this trending with somebody TTEC bill.
Regular usage was around 3500 Kwh, (~$1350) suddenly for a period he get billed for 13,785 KWh (~$5600). I mean that increase is so unusual I was wondering what bitcoin this man start mining from home or what.

After the customer queried it and TTEC said that's the customer's problem, pay yuh bill.

Yesterday TTEC say they make a mistake after it got the public attention on social media. So how it wasn't a mistake before the social media shine up?

[Dizzy28]

https://www.facebook.com/kishore.ramdath/posts/pfbid0cmAmhkMXSV7VknL28X6jcqHXbeARrSasbecnWcW2P3ZtqeEtmhibMrxPpGLmNvDdl

Seeing this trending with somebody TTEC bill.
Regular usage was around 3500 Kwh, (~$1350) suddenly for a period he get billed for 13,785 KWh (~$5600). I mean that increase is so unusual I was wondering what bitcoin this man start mining from home or what.

After the customer queried it and TTEC said that's the customer's problem, pay yuh bill.

Yesterday TTEC say they make a mistake after it got the public attention on social media. So how it wasn't a mistake before the social media shine up?

Wizzy probably lucky he well known so his post spread quickly.

[redmanjp]

So what was the issue? Malfunctioning meter?

[Les Bain]

Coworker had a similar story. At a certain point their billing changed. Is years since they gave me the story so I don't remember the particulars.
Short story: there was a wiring mixup with the neighbour. Their house was running on the neighbour current and vice versa. So coworker was running AC and getting vibes billing and the neighbour was getting epilepsy triggering bills.

[Habit7]

Wait until NGC can't afford to pay for T&TEC's free gas to the IPPs.

That will be the normal bills

[bluefete]

Gov't seems to have paused the increase until after elections because the know how unpopular they are.

[zoom rader]

Wait until NGC can't afford to pay for T&TEC's free gas to the IPPs.

That will be the normal bills

This been going on for years, its nothing new but PNM mis management

[viedcht]

Coworker had a similar story. At a certain point their billing changed. Is years since they gave me the story so I don't remember the particulars.
Short story: there was a wiring mixup with the neighbour. Their house was running on the neighbour current and vice versa. So coworker was running AC and getting vibes billing and the neighbour was getting epilepsy triggering bills.

Wait, is it wiring mix up or billing mix up? I asking because I trying to understand how two independent households can confuse electrical consumption.

[viedcht]

My bill really went up ah hundred dollars jusso jusso

[Habit7]

Wait until NGC can't afford to pay for T&TEC's free gas to the IPPs.

That will be the normal bills

This been going on for years, its nothing new but PNM mis management

This is a policy position spanning both admins. It is a way to have the gas wealth of the country be felt by everybody, lower costs for our manufacturing sector and use the most efficient fuel for power generation.

The problem is it is only as sustainable as our gas production is high. And we about to use up every viable internal source of gas.

It is inevitable and has nothing to do with mismanagement that we can't sustain low electricity prices.

[Les Bain]

Coworker had a similar story. At a certain point their billing changed. Is years since they gave me the story so I don't remember the particulars.
Short story: there was a wiring mixup with the neighbour. Their house was running on the neighbour current and vice versa. So coworker was running AC and getting vibes billing and the neighbour was getting epilepsy triggering bills.

Wait, is it wiring mix up or billing mix up? I asking because I trying to understand how two independent households can confuse electrical consumption.

Wiring. That continued for years til my coworker had renovation work to do. Is years and I can't remember the details.

[The_Honourable]

Gov't seems to have paused the increase until after elections because the know how unpopular they are.

Electricity and property tax would be or already on pause. Any wasa "rationalization" on slow mode.

If pee on dem wins and they raise electricity price, the public can't say they didn't know.

[zoom rader]

Wait until NGC can't afford to pay for T&TEC's free gas to the IPPs.

That will be the normal bills

This been going on for years, its nothing new but PNM mis management

This is a policy position spanning both admins. It is a way to have the gas wealth of the country be felt by everybody, lower costs for our manufacturing sector and use the most efficient fuel for power generation.

The problem is it is only as sustainable as our gas production is high. And we about to use up every viable internal source of gas.

It is inevitable and has nothing to do with mismanagement that we can't sustain low electricity prices.

Very much a mis management problem on PNM part. Failure to lure natural gas operators and telling lies for years.


It is why i know for a fact that a major operator in Pt lisas will be packing up shop in 7 years and moving their plants abroad.

And to think u lil kants wanted to build a smelter plan, shows how much mis management took place

A very sad state for Trinidad as we in a Śĥíťĥoʻľe mode under pnm

[Habit7]

Firstly, "natural gas operators" don't create natural gas. Natural gas has to exist in economical amounts to justify the investment. TT is already one of the highest taxed countries for International Oil Companies. We don't need more IOCs in TT, we need balanced incentives to encourage existing IOCs to explore while not giving away our resources with no benefit to us.

Secondly, as I said in another thread it takes 7-10 to develop a gas field to production. If our reserves have been dropping for the last couple years, it is the fault of those who were in charge 7-10yrs before. Our gas boom in 2001 onwards was because work was done by those govt in 1991 and onwards.

Thirdly, a smelter needs plenty electricity which was why TGU was built. We now have much more capacity than we need which makes us inefficient. Had the smelter been in play we would have had more revenue while using almost the same 6-10% of gas for electricity

Whether 7yrs or 25yrs we have limited gas. Hence our hope is to now tap into our shared border gas which is ours or cross border gas in Venezuela, Guyana or Suriname. The govt deserves kudos for securing shared border Manatee and cross border Dragon because in spite those in the Opposition who bad talking, they know if they come into power in 2025, that is their only hope to fund the country in a way we are accustomed to. Nevertheless, even those sources are not forever as Guyana might get cash flush and try to mimic the Pt Lisas Master Plan that blessed us for all these decades.

[wing]

when yuh have no answer, the best thing to do is throw mud

[nervewrecker]

Coworker had a similar story. At a certain point their billing changed. Is years since they gave me the story so I don't remember the particulars.
Short story: there was a wiring mixup with the neighbour. Their house was running on the neighbour current and vice versa. So coworker was running AC and getting vibes billing and the neighbour was getting epilepsy triggering bills.

Wait, is it wiring mix up or billing mix up? I asking because I trying to understand how two independent households can confuse electrical consumption.

Probably apartment building

[nervewrecker]

Firstly, "natural gas operators" don't create natural gas. Natural gas has to exist in economical amounts to justify the investment. TT is already one of the highest taxed countries for International Oil Companies. We don't need more IOCs in TT, we need balanced incentives to encourage existing IOCs to explore while not giving away our resources with no benefit to us.

Secondly, as I said in another thread it takes 7-10 to develop a gas field to production. If our reserves have been dropping for the last couple years, it is the fault of those who were in charge 7-10yrs before. Our gas boom in 2001 onwards was because work was done by those govt in 1991 and onwards.

Thirdly, a smelter needs plenty electricity which was why TGU was built. We now have much more capacity than we need which makes us inefficient. Had the smelter been in play we would have had more revenue while using almost the same 6-10% of gas for electricity

Whether 7yrs or 25yrs we have limited gas. Hence our hope is to now tap into our shared border gas which is ours or cross border gas in Venezuela, Guyana or Suriname. The govt deserves kudos for securing shared border Manatee and cross border Dragon because in spite those in the Opposition who bad talking, they know if they come into power in 2025, that is their only hope to fund the country in a way we are accustomed to. Nevertheless, even those sources are not forever as Guyana might get cash flush and try to mimic the Pt Lisas Master Plan that blessed us for all these decades.

Didn't I say something about electrolysis some time ago? Hence proman buying majority shares in TGU. Yes an announcement was made with a time frame for NG but it does not mean the end of the plants. There are other plants elsewhere that don't use natural gas and they are already located near the sea. We upgraded the distribution network with two feeders vs one as it has before when we had the blackout but most people were oblivious to the massive pylons being erected and the cables being run. Load was split hence the buzz over the highway at the back of TGU got eliminated.

[zoom rader]

Firstly, "natural gas operators" don't create natural gas. Natural gas has to exist in economical amounts to justify the investment. TT is already one of the highest taxed countries for International Oil Companies. We don't need more IOCs in TT, we need balanced incentives to encourage existing IOCs to explore while not giving away our resources with no benefit to us.

Secondly, as I said in another thread it takes 7-10 to develop a gas field to production. If our reserves have been dropping for the last couple years, it is the fault of those who were in charge 7-10yrs before. Our gas boom in 2001 onwards was because work was done by those govt in 1991 and onwards.

Thirdly, a smelter needs plenty electricity which was why TGU was built. We now have much more capacity than we need which makes us inefficient. Had the smelter been in play we would have had more revenue while using almost the same 6-10% of gas for electricity

Whether 7yrs or 25yrs we have limited gas. Hence our hope is to now tap into our shared border gas which is ours or cross border gas in Venezuela, Guyana or Suriname. The govt deserves kudos for securing shared border Manatee and cross border Dragon because in spite those in the Opposition who bad talking, they know if they come into power in 2025, that is their only hope to fund the country in a way we are accustomed to. Nevertheless, even those sources are not forever as Guyana might get cash flush and try to mimic the Pt Lisas Master Plan that blessed us for all these decades.

Didn't I say something about electrolysis some time ago? Hence proman buying majority shares in TGU. Yes an announcement was made with a time frame for NG but it does not mean the end of the plants. There are other plants elsewhere that don't use natural gas and they are already located near the sea. We upgraded the distribution network with two feeders vs one as it has before when we had the blackout but most people were oblivious to the massive pylons being erected and the cables being run. Load was split hence the buzz over the highway at the back of TGU got eliminated.

Don't explain these things to Habit7, he knows nothing about energy sector nor have never worked. Only reports he gets is from bailiser house

[zoom rader]

Firstly, "natural gas operators" don't create natural gas. Natural gas has to exist in economical amounts to justify the investment. TT is already one of the highest taxed countries for International Oil Companies. We don't need more IOCs in TT, we need balanced incentives to encourage existing IOCs to explore while not giving away our resources with no benefit to us.

Secondly, as I said in another thread it takes 7-10 to develop a gas field to production. If our reserves have been dropping for the last couple years, it is the fault of those who were in charge 7-10yrs before. Our gas boom in 2001 onwards was because work was done by those govt in 1991 and onwards.

Thirdly, a smelter needs plenty electricity which was why TGU was built. We now have much more capacity than we need which makes us inefficient. Had the smelter been in play we would have had more revenue while using almost the same 6-10% of gas for electricity

Whether 7yrs or 25yrs we have limited gas. Hence our hope is to now tap into our shared border gas which is ours or cross border gas in Venezuela, Guyana or Suriname. The govt deserves kudos for securing shared border Manatee and cross border Dragon because in spite those in the Opposition who bad talking, they know if they come into power in 2025, that is their only hope to fund the country in a way we are accustomed to. Nevertheless, even those sources are not forever as Guyana might get cash flush and try to mimic the Pt Lisas Master Plan that blessed us for all these decades.

Kant,

Years ago i exposed that PNM was going to get rid of petrotrin, every PNM blogger said no this not going to happen.


Now i am explaining to you from my industrial connections that a major operator in Pt lisas will be packing up shop and shipping their plants abroad in 7 years time. Every nut to reformer shipped away. Staff will be downsized while key personnel transferred with plant.

You can sit there and put out PNM lies over and over, i know my sources.

Trinidad is at the start of a śĥíťĥoʻľe

[nervewrecker]

I not sure if they packing up. There are options.

What going on with LNG though? Talks of shutdown and then decommissioning of said train but from the site visit it doesn't smell like decommissioning to me. Again, I could be wrong but they opting to repair and replace components that need to repair and add in components. Why do that if you shutting down.

[zoom rader]

I not sure if they packing up. There are options.

What going on with LNG though? Talks of shutdown and then decommissioning of said train but from the site visit it doesn't smell like decommissioning to me. Again, I could be wrong but they opting to repair and replace components that need to repair and add in components. Why do that if you shutting down.

Its in the making for the next 7 years. Only one operator looking to relocate one plant at a time.