The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Democratic National Alliance’s (DNA) leader has admitted to being taken by surprise by the Government’s energy reform plans, as it has never appeared to be a passionate believer in privatisation.

Reacting to plans that could see the Bahamas Electricity Corporation (BEC) split into two, with private sector partners taking over operation of its power generation and distribution assets, Branville McCartney conceded: “I didn’t see that coming.”

He indicated that given the Progressive Liberal Party’s (PLP) opposition to the Bahamas Telecommunications Company (BTC) privatisation completed by the former Ingraham administration, it was surprising that the Christie administration would embark on a similar process - and potential solution - for BEC.

“There must be transparency and accountability with regard to that,” Mr McCartney told Tribune Business of the Government’s proposed energy industry, and BEC, reforms.

“The Bahamian public must be given more information. We need what they intend to do, and how they intend to do it. There must be more information on the players involved, and we must know at the end of the day that it benefits the country and the Bahamian people.

“There seems to be a cloud of secrecy in that regard, and that should not be the case. Be transparent and accountable to the Bahamian people, so we know what you’re doing on our behalf.”

The Government’s recently-launched tender proposes splitting BEC’s power generation assets from its transmission/distribution business, and finding a joint venture partner for the former and a management entity for the latter (while retaining 100 per cent ownership).

“I see no reason why it’s not a profitable entity in any event,” Mr McCartney said of BEC. “They have a complete monopoly, yet they are suffering.”

He also noted the contradiction between the Government’s position on the BTC privatisation, where it has been attempting to negotiate a return of 51 per cent majority control with Cable & Wireless Communications (CWC), with its attempt to at least partially privatise BEC.

“They are very much against it,” Mr McCartney said of the concept of privatisation. “If you go back to BTC, they spoke out against it, privatisation.

“I don’t see the PLP being strong on privatisation. Privatisation can be good in certain circumstances and benefit the company.”

Noting that the Bahamian economy remained moribund, the DNA leader added: “It’s a very long tunnel, and it’s still very dark. The flashlight has not turned on yet.”