Grand Bahama Chamber of Commerce: How Will Government Offset the Cost of Reducing Electricity in GB?

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GRAND BAHAMA, BAHAMAS – With promises to reduce electricity costs for Grand Bahamians, and bring the island inside of government’s energy strategy, the Davis administration signed an agreement earlier this week to acquire the Grand Bahama Power Company (GBPC) from Emera through the Grand Bahama Energy Company Ltd.

It’s another effort the Davis administration says it’s making to bring down the cost of living for Grand Bahamians, but will this signing have any real impact?

Grand Bahama Chamber of Commerce President Ralph Hepburn tells us Grand Bahamians should soon see a slash in their power bills.

The prime minister is on record expressing his disappointment in the higher electricity costs put on Grand Bahamians when compared to the rest of the country.

Meanwhile, there are no plans to remove the management team and employees at the GBPC, but there’s this concern:

Ralph Hephburn – President, Grand Bahama Chamber of Commerce

“If a company is gonna be reducing their cost by 30%, revenue by 30%, how are they gonna make up for it and one of the first thing that you look at [is] cutting cost…”

The chamber is also hopeful the company is able to reduce costs without significantly impacting the reliability, service and maintenance, something they say Grand Bahamians have grown accustomed to.

Ralph Hephburn – President, Grand Bahama Chamber of Commerce

“We were hoping to see that happen with all of the governing bodies, whether the government or whether the port authority, we would like to be involved in those discussions so that we can have information to share with our members, so if anything comes up, [or] any questions, any concerns, we can objectively provide answers to them in terms of the way forward.”