Chief Executive Officer (CEO) of the Guyana Power and Light (GPL) Bharat Dindyal says the opposition’s decision to vote down the Hydro Electric Amendment Bill and the motion to increase the debt ceiling is one of serious concern.
Dindyal says a lot has been invested to bring the Amaila Falls Hydro Project to the stage where it is and further delays will have serious consequences.
According to the CEO, from a GPL planning perspective the company has no other option but to continue with the use of fossil fuel.
In addition to this, he says the company will be forced to construct other power stations to meet the increase in demand for electricity and according to him, these stations will sit idle when the hydro project does come on stream.
Dindyal revealed that the current price for crude stands at around US$106 per barrel.
According to him, if the price remains the same, then GPL will be in serious problems and will have to seek additional help.