NASSAU, BAHAMAS — Bahamas Power and Light’s (BPL) fuel charge increase is “another blow to the business community”, according to The Bahamas Chamber of Commerce and Employer’s Confederation (BCCEC).
The BCCEC said: “The amendment to the fuel charge will be another blow to businesses already struggling with rising costs due to external pressures, such as inflation, the proposed increase to minimum wage and NIB contributions. Other mitigative measures announced by BPL do not obviate the impending strain that this increase will add to businesses and their consumers.”
The BCCEC urged the government to consider “every option available to it” to provide relief to businesses.
“Notwithstanding the projection by the Government that this increase may be a short-term measure, we note that such an increase in the cost of doing business, no matter how short, will result in another cost evaluation for many companies,” the statement read.
“The BCCEC stands ready to engage with BPL and the Government of The Bahamas to have discussions on meaningful relief to businesses, which will aid in the challenges that this increase will inevitably cause.
BPL officials on Tuesday announced that electricity bills are set to increase next month.
Customers using less than 800kWh will see an increase of two cents p/kWh, and those using more power will see an increase of 4.3 cents p/kWh in four increments that take effect on October 1.
In a statement, BPL said the increases will take effect: October 1 to November 30, 2022; December 1, 2022 to February 28, 2023; March 1 to May 31, 2023; June 1 to August 31, 2023.
The price p/kWh is then slated to decrease at the same rate in two phases: September 1 to November 30, 2023; and December 1, 2023 to February 28, 2024.
The increase will be seen on monthly bills in November.
During each phase of the implementation, customers can expect a change of two cents per kWh up to 800 kWh and 4.3 cents for all units over 800 kWh, BPL said.
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