The government stated in a official statement from the Ministry of Grand Bahama that it will not support any rate increase proposed by the Grand Bahama Power Company (GBPC), with Minister for Grand Bahama Ginger Moxey explaining in the statement that the people of that island have “suffered enough” and should not be burdened by more expense.
The statement came on the heels of GBPC submitting a filing for a rate case to the Grand Bahama Port Authority Limited (GBPA).
The GBPA noted in its own statement that the rate filing is part of the power company’s obligation spelled out in the regulatory framework agreement and does not mean a decision has been made on rates.
“The GBPC is required to submit a filing for a rate case application which should include a capital budget presentation, five-year capital budget forecast, comprehensive plans on major operations, depreciation and maintenance expenses,” the GBPA statement noted.
“As part of the consultation process, GBPA will provide public access to the rate plan proposal on our website and in local media. As regulator, the GBPA will execute due diligence and hold the utility to the highest level of accountability, in order to ensure fiscal responsibility and appropriate investment is balanced with world-class customer service standards and reliability. GBPA will also conduct a 45-day public consultation process on the application prior to its final decision being made.”
The GBPA stated it is also required to provide a decision to the power company no later than December 1.
However, Moxey’s statement position is resolute, the government will not support a power rate increase on Grand Bahama.
“I categorically state, that while we understand that the filing is part of an established process, the government of The Bahamas will not support any rate increase on any portion of the customer base on Grand Bahama Island at this time, as it is our firm position that the people of Grand Bahama should not be further burdened on the heels of the economic stagnation caused by Hurricanes Matthew and Dorian, which was compounded by the global pandemic,” said Moxey.
Moxey explained that the government has assembled a Cabinet committee comprised of Attorney General Ryan Pinder; Minister of Social Services and Urban Development Obie Wilchcombe; Minister of Works and Utilities Alfred Sears; Minister of Health Dr. Michael Darville and Moxey, to review and address the GBPC rate case. That committee will meet with the GBPA sometime within the next two weeks, she said.
She added that government will ensure that the rights and interests of Grand Bahamians are protected, consistent with the national energy policy and especially after what the island has suffered since Hurricane Dorian and the COVID-19 pandemic.
“The government, pursuant to the Electricity Act, 2015, has the statutory mandate to set the national energy policy, with the goal and objective of which ‘shall be the creation of a regime for the supply of safe, least cost, reliable and environmentally sustainable electricity throughout The Bahamas’,” Moxey’s statement noted.
“This statutory mandate includes ‘aspects of social policy, including the scope of universal services and the protection of vulnerable customers’. The devastating effects of Hurricane Dorian and the COVID-19 pandemic on residents of Grand Bahama is a matter of deep concern to the government.”
The post Moxey: Govt will not support an electricity rate increase on GB appeared first on The Nassau Guardian.
source https://thenassauguardian.com/moxey-govt-will-not-support-an-electricity-rate-increase-on-gb/
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