OPPOSITION Leader Pennelope Beckles is urging citizens to prepare for possible knock-on effects from a pending natural gas price increase, warning that higher fuel costs could eventually translate into higher electricity bills.

Beckles raised the concern at a People’s National Movement (PNM) media conference at the Office of the Opposition Leader in Port-of-Spain yesterday, following an announcement by the National Gas Company (NGC) that prices could rise by as much as 70 per cent.

“We all understand the consequences of an increase of 70 per cent. We must know there is the issue of electricity. We can’t pretend that this is not going to arise,” Beckles said, suggesting the public should not be surprised if price hikes spread.

But Public Utilities Minister Barry Padarath dismissed the Opposition’s warning, insisting any electricity-related impact would be limited to industrial customers and would not affect residential rates.

Padarath told Guardian Media that the previous administration sold gas below the cost of acquisition, which he said created major losses for taxpayers. He accused Beckles of hypocrisy and claimed the PNM had supported subsidies for light industrial customers that cost the State billions.

“The bottom line is that this increase applies only to light industrial customers and will have no impact on residential electricity rates,” Padarath said, adding that the matter “will have absolutely no impact on T&TEC residential customers.”

The Opposition, however, signalled broader concerns about cost-of-living pressures. Opposition Senator Faris Al-Rawi suggested consumers could face increases across a range of goods, saying, “Crix going up. Juice going up. Carib going up.”

Beckles also criticised Prime Minister Kamla Persad-Bissessar for declining an invitation to attend an energy conference scheduled for next week, accusing her of avoiding scrutiny from stakeholders at a time of shifting market conditions.

She said the Government’s budget assumptions were under pressure, noting that oil was budgeted at US$73.25 but is now around US$60. Beckles argued the Prime Minister must explain how the Government plans to manage any shortfall and communicate any necessary adjustments to manufacturers, investors and the energy sector.

“The Prime Minister must tell us whether she even had the courtesy to inform manufacturers or members of the energy chamber…that the budget assumptions have shifted and adjustments are necessary,” Beckles said.