The Tribune

By KHRISNA VIRGIL

Tribune Staff Reporter

kvirgil@tribunemedia.net

PRIME Minister Perry Christie yesterday said he has not made any announcements on Bahamas Electricity Corporation’s restructuring because he wants to be “absolutely sure” that any government decision made is in the best interest of the country.

Speaking to reporters, Mr Christie said officials were now holding final meetings to wrap up discussions on the government’s proposed options. He said the government is in talks with two companies in Grand Bahama that have expressed interest in the proposal.

While it has been more than 18 months since the Christie administration

initially announced its plans to reform the corporation, Mr Christie insisted that he would move rapidly to bring a conclusion to the matter.

He made the comments following the morning session of the House of Assembly.

“My government knows of the importance of finalising the matter,” Mr Christie said. “We know that the island of New Providence is rapidly expanding in terms of the economy and the additional buildings being built that will require additional electricity.

“We have already announced Baha Mar coming on stream. If you drive past now the building is being lit up (and) slowly to the west of Baha Mar there are two condominium investments we have approved. So we know that we must move.

“As I indicated before, we are having final meetings to close the doors on all options. Like we have Emera that is in Grand Bahama (and) the FOCOL group (Freeport Oil Company) who said that they could match any offer. It was important for the government to close the door on all of these so that when it makes a final recommendation and decision, that decision is positive and a plus for the country.

“The ball is in my court and I will move rapidly for a conclusion on it.”

He added that any company that takes over management of BEC is expected to have the capacity to provide electricity for the Family Islands. This involves the use of alternative energy methods, including solar, wind and wave technology, Mr Christie said.

The government initially announced plans to restructure BEC in August 2013.

At that time, Mr Christie said two separate companies would take over the management and power generation at BEC. He said the contracts would be signed at the end of 2013.

However last December, Deputy Prime Minister Philip “Brave” Davis added further confusion and speculation over the matter when he confirmed a Tribune Business report that the government had abandoned its previous plans.

Instead, he said it is expected that one company will be selected to manage the corporation.