NASSAU, BAHAMAS- Bahamas Power and Light’s (BPL) chief executive yesterday shot down suggestions that the utility company is not inclined to promote renewable self-generation due to fears that it would cut into its revenue, asserting that for many commercial entities the company’s electricity rates provide a better return on investment (ROI).
Shevonn Cambridge, while addressing The Bahamas Hotel and Tourism Association’s annual general meeting, directly stated that’s not the case.
“When you reach this point where you are feeding peaks, it’s a point of diminishing returns. If we can get individuals to meet some of their peak demands with their own self-generation it’s a win-win,” Cambridge claimed.
“We did some calculations and the reason why we determined that a lot of commercial entities are not entering into the renewables space is because BPL’s rates are better than the return on that investment.”
BHTA president Robert ‘Sandy’ Sands during his address at the AGM admitted that the rising cost of power in this country is one of the “highest bottom-line expenses” business owners and operators face.
After confirming BHTA executives have met with BPL regarding its fuel charge increase, Sands said that the BHTA has asked for a seat at the table to discuss ways to accelerate the transition to alternative, environmentally-friendly energy solutions.
“We have asked to be part of the conversation and imminent solution, by collectively identifying and addressing impediments—whether it is access to capital, awareness and understanding of the options for transitioning—we are here to work together to empower and enable tourism stakeholders to deploy alternative energy options,” said Sands.
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