NASSAU, Bahamas — Opposition Leader Michael Pintard is backing energy reform for Grand Bahama but raising red flags over the Government’s plan to acquire and operate Grand Bahama Power Company, arguing the proposal could deepen public debt without guaranteeing lower electricity costs.
In a statement issued Monday, Pintard said while reform of the island’s energy sector is necessary, the current plan places too much financial risk on taxpayers. The Government is seeking to back roughly $280 million in borrowing tied to the acquisition—on top of existing obligations linked to Bahamas Power and Light and its predecessor, Bahamas Electricity Corporation.
According to the Opposition, those entities already owe about $298.1 million directly to the public treasury, with more than $50 million in additional loans taken on in 2025. That figure excludes an estimated $500 million in legacy debt.
Pintard questioned whether the proposed deal would deliver meaningful relief for consumers, asking whether electricity bills would actually fall or if taxpayers would ultimately be left covering losses. He also called for clarity on how the purchase price was determined, what liabilities are attached to the company, and how much additional public funding may be required beyond the initial borrowing.
The Opposition further argued that Bahamians have been excluded from participating in the deal, suggesting that alternative structures allowing public ownership or investment were not explored.
While reiterating support for improved reliability and lower energy costs in Grand Bahama, Pintard said the Opposition could not support what he described as a “blank cheque” approach or further debt accumulation without full transparency.
