The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

The Bahamas Society of Engineers (BSE) president yesterday described Bahamas Power & Light (BPL) bills as being “almost like a mortgage now” as households and the private sector struggle to cope with the increased expense.

Quentin Knowles told Tribune Business that, when it came to soaring BPL bills, from a “personal perspective, it’s hard. It’s almost like a second mortgage". He recalled that in recent years, between mid-2020 and October 2022, BPL customers were enjoying “good rates” and it is “unfortunate” this is no longer the case.

He added: “It is painful. I have to be honest, it is painful, and I only can imagine the people who are struggling and small businesses because this is another major expense that they have to deal with.” Acknowledging that it has been “hard for businesses to catch their breath" post-COVID, Mr Knowles voiced hope that there will eventually be a “settling down” at BPL over the next two years once through this summer.

Rejecting renewable energy as too expensive and a “high capital investment”, he added: “Outside of the high bills, we just have to cut costs and often times it means letting go of people. If the cost of electricity is through the roof, then you have to make a business decision.”

Andrew Wilson, the Quality Business Centre (QBC) and Fashion on Broadway principal, said: “I’m also looking at the opportunity of selling solar systems.” He conceded, though, that “there is nothing anyone can really do anything about" the current situation as BPL's challenges have “been with the country for some time now", and added: “I don’t know if it’s a problem that can be fixed in the short term.”

Christopher Lleida, Premier Importers' chief executive, said: “The bills are definitely higher. I’m not disputing that. When I see payments go through, it used to be $6,000 and now it’s $8,000, a 33 percent increase, but that’s the cost of doing business here.” He believes there is very little that can be done short-term because BPL is “just eating up profits".

As for the possibility of employing solar and other renewable energy forms, Mr Lleida said: “We have large spaces where we can implement solar, and we can easily install the systems. But the whole advantage would be to connect it to the grid. Because there is no leadership at BPL, I don’t think the management or the political leadership at BPL quite grasp the fact that BPL is an energy tax because we have the means to generate electricity in the country by solar."