Temporary suspension to load shedding yesterday short-lived
NASSAU, BAHAMAS — Government is expected to borrow an undetermined amount of money to correct what many have deemed as an energy crisis in New Providence, Eyewitness News can confirm.
Following months of load shedding by Bahamas Power and Light (BPL), Deputy Prime Minister and Minister of Finance Peter Turnquest said yesterday that government will “spare no expense” to fix the power generation challenges.
Speaking to the media outside the Churchill Building, the minister pledged that the government will provide the financial resources to expedite resolution on the generation shortfall that BPL executives have said could persist until fall.
“It would require some type of burrowing for sure,” Turnquest confirmed.
“In the parameters of the fiscal responsibility legislation it clearly states that where there are instances of unexpected expenditure, that the government is required to be transparent about that and come to the Parliament and explain it, and put in place a plan or program to return to fiscal responsibility.”
While Turnquest said it is unclear how much money would be needed to correct the generation shortfall at BPL, the deputy prime minister said government will be guided by BPL officials.
“No finance will be spared if there is a solution that can be brought in the short term,” he said.
“BPL has put forth a plan which appears to be workable… and we are working toward that. To the extent that they need assistance to make that happen, if it can be accelerated, certainly we will find the resources to do that because we recognize it is a nationally important issue.”
Last year, BPL obtained a near-$100 million credit line for new equipment and to overhaul existing systems before peak summer demand. Those funds were reportedly redirected to purchase new engines.
Yesterday, BPL announced a temporary suspension of load shedding as it was able to meet its demand, however, by yesterday evening the power company had resumed load shedding.