FNM ‘Flabbergasted’ by URCA Assessment of BPL Hike

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NASSAU, BAHAMAS – Members of the Free National Movement are ‘flabbergasted’ by the Utilities Regulation and Competition Authority’s assessment of Bahamas Power and Light’s fuel hikes.

FNM Leader Michael Pintard said: “For the regulator of the country to indicate they believe the hike is justified, we are flabbergasted.”

According to a December 15 statement by URCA, the authority conducted a comprehensive review of BPL’s fuel charge increase proposal, determining that it is satisfied that BPL has made an adequate case for the rate increases outlined in its press statement dated 04 October 2022.

However, in the statement, URCA noted that BPL’s justification for the changes to the fuel charge is based on conditions that are likely to change, and it intends to revisit that matter to ensure that BPL is operating efficiently and charging customers appropriately.

Now the FNM is calling on URCA to release the confidential, comprehensive assessment, saying it should be in the public’s view.