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Who Is The Regulator for Grand Bahama Power Company?

NASSAU, BAHAMAS – There’s been an ongoing debate on who is the regulator for the Grand Bahama Power Company amid the power company’s request for a rate increase.

Published

3 months ago

August 13, 2024

Italia Hall

GRAND BAHAMA, BAHAMAS – There’s been an ongoing debate on who is the regulator for the Grand Bahama Power Company amid the power company’s request for a rate increase.

That question has once again surfaced following a filing by the Grand Bahama Power Company for a rate plan proposal with its regulator, the Grand Bahama Port Authority, on August 1st.

The filing is comprised of two elements – a request for an increase in base rates to maintain operations and a system resource plan. If approved, the requested change in base rates will come into effect on January 1st, 2025.

Now according to section 21 of the Hawksbill Creek Agreement, the Port Authority has the sole right to construct and operate utilities in the port area and no license or other permission or authority shall be required by the port authority from the government or any department.

Section 21 continues the Port Authority shall have the authority to and may charge such rates or other charges something the Port President, Ian Rolle recently confirmed.

The GBPA also sent a statement after the GBPC’s filing to assert it’s position that they are the sole regulator for electricity in Grand Bahama but confirms they have not approved the GBPC’s requested rate increase and it’s currently under review.

The GBPA also says the 2024 electricity act which purported to give URCA the legal right to license and oversee energy providers in the port area, is inconsistent and conflicts with the rights and privileges vested in GBPA under the HCA.

However, while on the northern island over the weekend, Prime Minister Philip Davis hit back at the GBPA saying under law there is only one regulator with the power to approve a rate increase.

The Ministry of Energy and Transport also speaking out against GBPC’s rate proposal sharing they wrote to URCA to express their objection and asked the regulatory body to enforce stringent compliance with the Electricity Act.

Now there is currently an action in the supreme court regarding the rights of the GBPA and URCA.

In an interview with Our News in February of this year while on Grand Bahama Corporate and Consumer Relations Matters, Manager of URCA Juan McCartney addressed the issue.