Trinidad’s business sector is bracing for significant economic disruption as the National Gas Company’s (NGC) 77% price increase for commercial and industrial natural gas takes effect January 31. The Trinidad and Tobago Chamber of Industry and Commerce (TT Chamber) has urgently called for a phased implementation approach, warning that the abrupt hike threatens both domestic price stability and international export competitiveness.
In a January 29 statement, the TT Chamber emphasized that manufacturers have historically relied on favorable natural gas pricing arrangements to support economic diversification efforts. The organization cautioned that the sudden price escalation could trigger widespread consumer price increases while undermining companies’ operational viability. Particularly concerning are potential ripple effects on electricity and water subsidies, which the chamber describes as “critical” to maintaining competitive positioning in regional and international markets.
Trinidad Cement Limited (TCL), a major construction sector stakeholder, has confirmed impending cement price adjustments in response to the energy cost surge. General Manager Gonzalo Rueda Castillo identified natural gas as a critical manufacturing input, noting that the company has already absorbed substantial cost increases in raw materials, packaging, and general inflationary pressures. TCL stated that while it opposes the gas price increase and continues seeking alternative solutions, a price revision becomes “unavoidable” to ensure business continuity and market supply.
The TT Chamber revealed that the manufacturing sector consumes approximately 1.5% of NGC’s total gas production, supporting over 100 manufacturers that employ thousands of Trinidadians. The business advocacy group proposed a coordinated policy framework including tiered pricing based on consumption levels, progressive utility metering systems, and rules-based subsidy adjustments tied to global energy market fluctuations.
Emphasizing the need for transparent national dialogue, the chamber warned that Trinidad faces “broader and unavoidable structural adjustment challenges” in its historically subsidized economy. While acknowledging the government’s revenue needs, businesses urged measures that would minimize economic strain on both enterprises and consumers while protecting employment and export-led growth strategies.