By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
Lower electricity costs are key to Grand Bahama's economic transformation and will help it emerge from "crisis", the head of a community activist group said yesterday.
Reverend Eddie Victor, head of the Coalition for Concerned Citizens (CCC), told Tribune Business: "Right now, at this juncture, we believe that one of the keys for Grand Bahama's transformation is that we have to lower the cost of energy. As far as the economy is concerned it would provide a better environment for doing business. The cost of energy is one of the major impediments for investors coming in."
Reverend Victor said the group was seeking the Government's intervention in "a major way" by calling for the creation of an independent regulatory committee for the energy sector under the oversight of the Utilities Regulation and Competition Authority (URCA).
He argued that the current regulatory regime was not protecting consumers, with the Grand Bahama Port Authority rather than URCA responsible for GB Power.
"We believe that an independent committee should be established and comprised of various individuals in the community. Right now, URCA is the regulator for BTC, Cable Bahamas and all of the broadcasters. The only one not being regulated by URCA is the power company," Reverend Victor said.
He argued that the agreements between the Grand Bahama Power Company and the Government for the former to supply the island's East and West Ends should not be renewed when they expire in 2018, in a bid to end the utility's monopoly.
"Grand Bahama's economy is in crisis right now, and we believe that lowering the cost of energy will certainly make the island more attractive and help to attract more investment," said Reverend Victor.
The CCC began its campaign against Grand Bahama Power Company four years ago, calling for the revision of the tariff structure to reduce electricity rates and fuel surcharge costs; for consumers to be allowed to install solar energy systems; and for a 10 megawatt solar plant to be connected to the island's power grid.
Comments
Economist 6 years, 10 months ago
I think that Eddie Victor should create his own power company for East and West End Grand Bahama so that we can have cheap power.
He can show the GBPA and GB Power how it can be done by doing it himself.
The_Oracle 6 years, 10 months ago
GBPC aught to fall under URCA insofar as East and West Grand Bahama, including E.M.R. The argument for URCA having no authority in Freeport might stand for Freeport (the Port Area itself) in that the Port is supposed to be the regulator, albeit pathetic as it is. Cable Bah set Freeport Cable up to address this very issue, hence the court cases lost by URCA. Question is, has Grand Bahama Power done the same?
DaGoobs 6 years, 10 months ago
The government needs to be very careful on how it negotiates or gives away expiring or expired concessions in Freeport without ensuring that it obtains the best possible terms for the governance of Freeport and the rest of Grand Bahama. Although the Communications Act and the Electricity Act are national pieces of legislation that apply to any service provider in those industries in any part of the Bahamas, you have Cable Bahamas and Grand Bahama Power who take the position that they are not subject to these laws and refuse to pay the government and the regulator millions of dollars in licensing and regulatory fees. Then to add insult to injury, these companies and their lawyers want to tout the Grand Bahama Port Authority as being some sort of regulatory body in Freeport. If journalists and others actually read the Hawksbill Creek Agreement they would see that the Port Authority is only a licensing agency for doing business in Freeport and selling land in Freeport. As far as servicing East and West Grand Bahama with electricity, the Power Company claims to have entered into agreements with the Ingraham administration to provide electricity in Grand Bahama besides Freeport that extends the benefits of the HCA to these additional communities. Amazingly Grand Bahama is the only island in the Bahamas that has no regulator to protect communications and electricity consumers. It is unseemly for the government to allow this situation to continue especially when it has enacted laws to protect these consumers but is being prevented from doing so by two companies hell-bent on inflating their profits at the expense of poor Bahamians.
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