PHILIPSBURG--Minister of Economic Affairs Franklin Meyers has targeted March 1 to issue instructions to GEBE to implement new tariffs as recommended by Bureau Telecommunications and Post (BTP) Curaçao. Should March 1 not be possible as a result of GEBE's billing period, March 31 will be the target date.

BTP Curaçao was commissioned last year by the Ministry of Energy and the Ministry Economic Affairs to evaluate GEBE's present tariff structure proposed by KEMA. The Minister explained that BTP Curaçao had presented its findings last week Thursday and, based on GEBE's expenses, inefficiencies, energy output, etc., recommended that the company implement a base rate of approximately NAf. 0.19 to NAf. 0.22 per kilowatt hour. GEBE's base rate for electricity currently is NAf. 0.29.

BTP Curaçao had a subsequent meeting with GEBE last week Friday to determine whether there were any "hidden fees" that should be considered before the final report was compiled and submitted. Once this final report is presented, Meyers "guaranteed" that a letter would "swiftly go to GEBE" instructing the company to implement the new rates.

A reduction in the base rate will mean some reduction in monthly bills. The Minister did not outline how this reduction would affect GEBE's long-term investments or its standing loan with Pacific Life.