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Managing Director of GWI, Mr. Derek Hodson, said the tariffs of the company have been under review in conjunction with the Government and this review has been necessitated by the current economic situation and the budget of GWI.
Not least among the effects on the company's budget is the cost of power, he said.
"This represents over half of our total expenditure as we rely on power to be able to pump water to all customers," he said at a news conference.
"Every effort is being made to reduce these costs through an intensive energy management programme and similar savings are being sought on other expenditure items," he added.
"Of the current operational expenditure it is necessary to introduce a new tariff with effect from 1st January, 2003 in order to ensure that we meet our operating and maintenance costs for the year," Hodson said.
"For households outside of Georgetown the increase will be $200 a month.
"For the average household in Georgetown the increase in water charges will be $350 each month.
"For those households within the area where sewerage services are provided there will also be an increase in charges for these services of $100 per month," he said.
"There are increases in charges for all other customer groups and full details will be included with the first bill based on these new charges that each customer receives," Hodson added.
Additionally, copies of the tariff will be available at every GWI Customer Service location, he said.
According to him, the company hopes that customers will understand that these increases are aimed at improving and maintaining a service to the nation.
Also at yesterday's news conference were Mr. Mike Byrne, Director of Customer Services, Mr. Lennox Richmond, Finance Director, Public Relations Officer, Ms. Audreyana Thomas, and Assistant Public Relations Officer, Mr. Javin Singh.