We note a press release issued by the Grand Bahama Power Company (GBPC), dated August 6, 2024, regarding their submission of a ‘proposal’ to increase their base rate. Whilst this decision claims to be “in alignment with its Operating Protocol and Regulatory Framework,” it is wholly ill-conceived, badly-timed, and appears to prioritize profit over the well-being of the community.
We empathize with Grand Bahama residents and businesses, and are concerned about the additional strain this proposed increase will present.
In 2020, GBPC implemented a 1% increase as ‘Storm Recovery and Stabilization Charge’ (SRS), and in early 2022, they were granted approval by The Grand Bahama Port Authority (GBPA) for a 3.4% increase to the base rate, which was implemented in April 2022. Now, in 2024, amidst numerous power outages, the GBPC seeks to impose a further 6.3% increase to the base. This is not acceptable.
Further, we call on GBPC to enhance its process and functions of investigating and assessing claims of damage to household appliances and equipment resulting from frequent outages.
Again, we do not support the base rate increase and urge reconsideration on the basis of the hardship faced by Grand Bahamians and the unreliable performance of the GBPC since the last increase.
When are jobs coming to Freeport