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Finding Energy Solutions

NASSAU, BAHAMAS – The Caribbean has some of the highest energy prices in the world and World Bank officials and local agencies warn of even higher costs next year.

Published

1 year ago

November 3, 2022

Kristina Dragovich

NASSAU, BAHAMAS – The Caribbean has some of the highest energy prices in the world and World Bank officials and local agencies warn of even higher costs next year.

A look around the region will show Bahamas Power and Light’s counterparts in Jamaica charge 22-cents per kilowatt hour, 28 cents in the Turks and Caicos Islands’ South Caicos and 29-cents in Cayman Islands.

World Bank Country Director for Caribbean Countries, Lilia Burunciuc says the cost of energy in the Caribbean was further compounded by Russia’s war in Ukraine.

Beginning December 1, Bahamian residents can expect fuel charges to rise from 12.5 cents per kwh to 14.5 cents per kwh, for those consuming less than 800 kwh. Anyone consuming more than that – like large businesses and resorts – can expect to see a 4.3 cent jump from 14.8 kwh to 19.1 kwh.

Members of the Bahamas Hotel and Tourism Association met with BPL on Monday, about the impact the rising fuel charge will have on resorts.

But in every challenge, there is an opportunity.

According to a statement released by BPL, while the BHTA presented recommendations to help ease the impact of fuel prices on members, bpl says “conservation and prudent behaviors” remain the best methods for controlling energy costs.

In its recent chat about energy in the Caribbean, the World Bank says it is working toward a clean energy transition in the Caribbean.