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T&TEC debt to NGC is over $3 billion

The parliament is informed that the Trinidad and Tobago Electricity Commission’s debt to the National Gas Company as of April 30th 2017 is TT 3.12 billion dollars.

Fitzgerald Hinds Public Utilities Minister made known the development in the House of Representatives this afternoon.

He said gas is used to produce electricity; this gas is purchased by T&TEC from NGC and supplied to independent power producers to convert it to electricity.

Mr Hinds confirmed that the state owned company has been experiencing financial challenges which have impacted its ability to meet its commitments.

Minister Hinds was asked several questions from the Opposition bench on how T&TEC will repay the outstanding money owed to the NGC.

However, the Public Utilities Minister insisted that he was not in a position at this time to give information on the matter as deliberations are taking place on it.

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