National
Energy Minister: $1B Needed To Fix BPL
NASSAU, BAHAMAS – Over $1 billion is needed to settle debts and address age-old challenges plaguing Bahamas Power and Light consumers.
NASSAU, BAHAMAS – Over $1 billion is needed to settle debts and address age-old challenges plaguing Bahamas Power and Light consumers.
Energy Minister JoBeth Coleby-Davis provided this breakdown into that $500 million debt alone.
But that’s not all, Coleby-Davis also revealed that $500 million price tags for much-needed upgrades will need to be rolled out over the next fiscal year.
This revelation comes as the future of the power company remains unclear amid much speculation in recent days.
Rumors swirled of the power giant being privatized and talks of a company being contracted to oversee BPL’s transmission and distribution systems.
While Coleby-Davis didn’t address the matter head-on, she did say this.
The Bahamas Electrical Workers Union outright rejected the deal.
While the energy minister says the government’s plan for BPL is transformative, Opposition Leader Michael Pintard says the plan lacks transparency.
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