The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The Bahamas Electricity Corporation’s (BEC) potential fuel supply fuel woes are “very disconcerting” to the private sector, a leading executive saying the monopoly energy supplier should never be in such a precarious situation.

Edison Sumner, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chief executive, told Tribune Business that the issue spoke directly to previous mismanagement of the country’s energy resources.

While the Corporation’s financial woes have long been publicised, BEC executive chairman, Leslie Miller, said last week that it was facing a shutdown unless it pays a $55 million fuel debt to Shell Western by month’s end. He later backtracked, saing BEC was making arrangements with its supplier to pay off the debt.

“I am surprised at the state of BEC,” Mr Sumner said. “We know that the sector has been challenged for some time now, particularly as it relates to the cost of energy. This all goes back to the point that the Government needs to pay attention to the cost of energy in the country.

“We see they are doing this with the development of an energy sector policy. They must also consider what may be alternative forms of energy we may look at. While we applaud them on the National Energy Policy they are developing currently, we are also looking at measures to bring immediate relief to the business community and the residents as well. Everyone is feeling the pinch. Everyone is feeling the cost of energy hitting their wallets. It’s an enormous cost to businesses to the extent that many businesses have to make decisions on whether to cover payroll.”

Mr Sumner added: “This issue goes directly to the general management of the energy resources in the country for many years, and I don’t think we have managed our resources properly. BEC, as the national energy provider, should never have found itself in the situation where they have run out of credit and have to come up with such a large sum in such a short space of time.”

He said it was incumbent on BEC customers to ensure they maintain their accounts in good standing. “We understand the burden on BEC and the consumers, and if we can find ways to address the cost of energy and the efficiency of the system, we would not be having these kind of concerns. Our position is to encourage BEC to get on with looking at measures we can put into effect immediately to address these kinds of issues,” said Mr Sumner.

Mr Miller recently told The Tribune that the Corporation is always “scrapping” to pay outstanding fuel bills, and has found itself “in this position many times before”. BEC is said to be owed some $185 million by its customers.