The Tribune

By AVA TURNQUEST

Tribune Staff Reporter

aturnquest@tribunemedia.net

THERE are no Bahamian companies in the running for the Bahamas Electricity Corporation’s restructuring and privatisation as the bidding process enters its final stage.

Deputy Prime Minister Philip “Brave” Davis confirmed that the request for proposal exercise to restructure the energy sector was “progressing satisfactorily” with five remaining bidders.

Mr Davis said: “We had a meeting with KPMG, who are the front runners in receiving, evaluating and analysing the bids, and they have just sent out a letter for further clarification to all the tenders to identify their strengths and weaknesses, and asking them to clarify a few things. They should respond within the next two to three weeks and when they have, we will be in a better position to make a determination. A report will be made for evaluation before Cabinet.”

The five remaining Bahamas Electricity Corporation (BEC) bidders have until the end of January to provide “final submissions” and answer all remaining questions the government’s advisers have.

According to Tribune Business, Carolinas-based Power Secure is understood to be the only bidder still in the running for the contract to manage BEC’s transmission and distribution business.

On the generation side, one bidder is the Caribbean Power Partners consortium, headed by Texas-based Taylor Cheek and featuring Fluor Corporation and ProEnergy Services. Other bidders are thought to have originated from the Caribbean, China and Asia.