NASSAU, BAHAMAS- The Grand Bahama Power Company (GBPC) says customers will not see any change in electricity rates reflected in this month’s bills, as the utility moves through a regulatory process tied to its proposed Equity Rate Adjustment Application.
In a statement issued, the company said it is currently preparing to submit the application to the regulator, but emphasized that no new rates or billing adjustments have been approved or implemented.
“There will be no rate change reflected in this month’s electricity bills,” the company said.
GBPC noted that the process remains in its early stages and will undergo full regulatory scrutiny under the Electricity Act, 2024, as well as oversight from the Utilities Regulation and Competition Authority (URCA). The company stressed that any potential adjustments must first be reviewed, assessed, and approved before being applied to customer accounts.
The application is part of what GBPC described as its ongoing commitment to improving affordability for households and businesses across Grand Bahama, while maintaining safe and reliable electricity service.
The company said the proposal aligns with the Government of The Bahamas’ broader National Energy Reform Strategy, which seeks to modernize the energy sector and address long-standing concerns over electricity pricing and infrastructure costs.
GBPC also reaffirmed its commitment to transparency throughout the process, noting that further details regarding the application and any proposed adjustments will be made public as required under the regulatory framework.
“Transparency remains a priority throughout the process,” the company said, adding that it will continue to share updates with customers and stakeholders as the review progresses.
It also stated that, should URCA determine that public consultation is necessary, GBPC will fully participate in the process to ensure that customers are informed and engaged in discussions about potential rate changes.
“As a company deeply rooted in the Grand Bahama community, we recognize the importance of affordable energy to families, businesses, and economic growth,” said Nikita Mullings, Chief Operating Officer of GBPC. “These proposed adjustments represent an important step toward supporting our customers while continuing to invest in the reliability and sustainability of our electricity system.”
The update comes at a significant time for the island’s energy sector, following the Government of The Bahamas’ acquisition of all outstanding shares of GBPC from Emera in a $280 million transaction completed in May 2026.
The state-led purchase is part of a wider effort to reduce electricity costs by an average of 37% and bring GBPC’s tariff structure closer in line with Bahamas Power and Light (BPL) rates.
Officials have said the acquisition is intended to strengthen energy stability in Grand Bahama, reduce financial pressure on consumers, and support long-term economic development on the island.
The deal also reflects broader national efforts to reform the electricity sector, improve efficiency, and modernize generation and distribution systems across The Bahamas.
While the ownership transition marks a major shift in the island’s utility landscape, GBPC has emphasized that day-to-day operations and billing processes remain unchanged for now, with existing tariff structures still in place pending regulatory review.
Customers, the company said, should expect continuity in service as the application process moves forward and any potential changes are assessed.
The Equity Rate Adjustment Application itself is expected to examine the current cost structure of electricity provision in Grand Bahama, including generation, fuel costs, infrastructure maintenance, and operational efficiency.
Any resulting recommendations would then be subject to URCA approval before implementation.
GBPC reiterated that it remains committed to working closely with the Government, regulators, and the public to ensure that any long-term energy solutions balance affordability with the need for ongoing investment in the power system.
The company also underscored its role in supporting economic growth on the island, noting that stable and affordable electricity is critical for households, tourism, and business development in Grand Bahama.
