An analysis has been made regarding the cost price outcome for 2012 which is an average base rate of Naf.0,22. This average is the level needed to meet the revenue requirements of GEBE.
An average rate of Naf.0,22 means for the tariff categories 11 and 12 a base rate of Naf.0,25 and for tariff categories 21 and 22 a base rate of Naf.0,22.
Minister of Economic & Tourism Affairs, Telecommunications & Transport Hon. Franklin Meyers and Minister of Energy Affairs Hon. Theo Heyliger, were advised via letter dated 17 February, 2012 by BTP Director J.D. de Canha.
De Canha in his letter says: "We advise you to ask GEBE to calculate for 2012 the effect of an average base rate of Naf.0,22 on the revenues from the base rate in relation to the costs.
"In order to have the proper analysis at hand to determine future rates where it concerns electricity, the data had to be properly studied.
"We cannot throw up wild figures irresponsibly and give false hope without having the data studied.
Nobody would like to endanger the future of our electricity production company where it concerns loan servicing, future power generation equipment investments, and the company being able to cover its monthly operational expenses which includes the purchasing of oil.
"With this information in hand we can now move forward," Minister of Tourism, Economic Affairs, Telecommunications and Transport Hon. Franklin Meyers said on Tuesday.
The Council of Ministers received a presentation about the tariff regulation and tariff setting on 15 February, 2012 from BTP.
The data used for the calculation was provided by GEBE and concerned 2010 and earlier years. These data were used to forecast 2011 and 2012.