The Regulated Industries Commission stands by its decision, which will see higher electricity rates.

The Commission says, it did the best it could in approving and proposing new rates.

However, Chairman Dawn Callendar says, the rates recommended by the RIC reflect 75% of the true rates.

Additionally, Mrs. Callendar says, the organization did all in its power to cushion the effects of the impending hike in electricity rates.

She noted that the reduction is about 2 billion dollars, and responded to concerns over residential rates.

Executive Director Dr. Michelle Salandy says, consideration was given to reduce commercial and industrial customers by 13%, to cushion the trickle down effect.

While she understands price increases are never welcomed, the RIC sought to find the right balance.

They were speaking on tv6’s morning edition programme yesterday,

T&TEC, is yet to accept the proposed rates.