By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net
GRAND Bahama Minister Ginger Moxey has reiterated that the government will not support any rate increase for electricity on Grand Bahama at this time when many residents are still struggling after two major crises.
Her comments came last week during her contribution in the House of Assembly thanking the Governor General for reading the Speech from the Throne.
“It is our firm position that the people of Grand Bahama should not be further burdened on the heels of the economic stagnation caused by Hurricanes Matthew and Dorian, which was compounded by the global pandemic,” said Ms Moxey.
Grand Bahama Power Company (GBPC) officially made an application to the Grand Bahama Port Authority (GBPA) for a rate adjustment.
According to a statement on the power company’s website, “the average increase to the all-in rate for all customers is projected to be 4 percent, as compared to inflation rates in The Bahamas of 8.4 percent over the past several years. Not all customers will see a rate increase and, in fact, a decrease in base rates is proposed for a segment of residential customers.”
Ms Moxey indicated that the Davis administration made immediate inquiries, expressed its deep concern, and took swift action.
She said many residents also expressed their frustration with the thought of being further burdened in a time that they can barely afford to keep their lights on.
“Madame Speaker, we made it clear that while we understand that the filing is a part of an established regulatory framework, we will not support any rate increase on any portion of the customer base on Grand Bahama island at this time,” she stressed.
“I want to let the people of Grand Bahama know that this administration will ensure that our policies demonstrate a level of compassion for the plight of our people and businesses; and will encourage corporate Grand Bahama to do the same.”
Turning her attention to East Grand Bahama, Ms Moxey said residents “will finally experience relief after being neglected for four and a half years from an administration that they gave five seats to in 2017.”
She recalled her visit to the area two weeks ago with a delegation.
Following the tour of communities of East End that were ravaged by Hurricane Dorian, Ms Moxey said she was “disheartened.”
“It was disheartening to view firsthand the horrible conditions and disrepair of so many of the public facilities, including schools, and to speak directly to residents and local government officials who echoed the need for immediate intervention.
“We are committed to assisting to rebuild their communities and to ensure that the people of these areas receive the attention that they so rightfully deserve from our caring government.”
She said that the Davis administration’s Special Economic Recovery Zone (SERZ) Amendment will allow persons who lost their vehicles during the storm to import a replacement vehicle duty-free, as well as transport their vehicles to other islands without having to pay custom duties.
“With this amendment, persons whose applications were previously approved but were not used before the expiration date, can now use this approval to import their vehicles duty free. In addition, new applicants on Grand Bahama Island can apply at the Ministry for Grand Bahama,” she stated.
Comments
joeblow 2 years, 12 months ago
... businesses do not have the luxury of functioning outside of normal economic principles like governments. There is a cost to doing business and making a profit. The cost of fuel is increasing around the world so naturally the cost of everything connected to fuel must increase (electricity, cost of producing goods etc). This is basic economics, whether or not the government approves!
realfreethinker 2 years, 12 months ago
Another gimmick. The government does not have a seat at the table when it comes to the rate increase. Now they can beg the GBPA not to grant the increase.
TimesUp 2 years, 12 months ago
I can say without a doubt that the mere mention of this increase has been enough for our family to pledge that we will do everything in our power to stop giving GB power all our money. We would rather loose money and go broke going with solar than to give them 1 more penny.
hrysippus 2 years, 12 months ago
Can these elected officials really be so ignorant of the workings of a market economy that they think that they can mandate a utility company to sell the electricity that they generate for less than the cost of generation? Now remind me how that worked out with water production in Eleuthera a year or two back?
The_Oracle 2 years, 12 months ago
GBPC is in no danger of selling for less than the cost of generation, they are guaranteed a MINIMUM 10% return on investment in their agreement with the GBPA, 10% which can easily be eroded by post hurricane repairs/and bottom line costs to stay online, in SPITE of a separate bill line item called a "Storm recovery" charge. The real issue is a lack of transparency for the public in the deal between the GBPC and the regulator, the GBPA. SImply put, Infrastructural decay, bad management, endless rental units, storm damage and market size shrinkage probably have them wanting to maintain profits at any cost to the public.
Sign in to comment
OpenID