Bahamas Power and Light (BPL) said it unequivocally denies the “erroneous” rumours of a 70 per cent increase in electricity rates.
“We have no intention of increasing the price of electricity for the Bahamian people by 70 per cent,” outlined a statement released by BPL last night. “Further, BPL does not have the authority to increase electricity rates without consultation and approval of URCA.
“We urge you to ignore the false ramblings, and be assured that BPL is committed to providing a safe, secure and cost-effective supply of electricity to our customers.”
Despite this claim, BPL’s Chairman Donavan Moxey, told Eyewitness News in an exclusive interview last week that electricity bills have risen in some instances to 70 per cent. He also admitted that costs will continue to climb until the summer of 2019.
Moxey blamed the rising cost on several fires at BPL’s Clifton Pier plant. That plant uses Heavy Fuel Oil (HFO), which is significantly cheaper than the Automotive Diesel Oil (ADO) being used at the Blue Hills Power Plant, which is currently producing most of the island’s electricity.
Prime Minister Dr. Hubert Minnis announced in Parliament Wednesday that government intends to temporarily raise the value-added tax (VAT) exemption ceiling on electricity bills to $300.