During her contribution on the 2023-2024 mid-year budget in the House of Assembly on Wednesday, the Minister of Transport and Energy, the Hon. Jobeth Coleby-Davis spoke about the financial state of Bahamas Power and Light (BPL).
Coleby-Davis told Parliamentarians that BPL is over $500 million in debt and needs approximately the same amount over the next five years. “Three hundred million in new generation in New Providence and in the Family Islands, $130 million in transmission and distribution in New Providence in the next two years alone, $35 million in advanced metering infrastructure and $70 million in other costs.”
The Minister also spoke to government’s plans to lower prices and deploy renewable energy. “The components are and that incorporate solar as a blended source of energy in the Family Islands with a view to replacing one hundred megawatts of generation infrastructure. We received twenty nine proposals in response to our request for proposals and we are presently evaluating those proposals and intend to notify the successful bidders by the end of March this year.”
Coleby-Davis assured that there will be no privatization or layoffs at BPL. She said, “we are instead creating new and exciting roles and training opportunities for BPL staff so that they can help transform BPL’s reputation into a premiere service provider. It is not an attempt at union busting BPL will continue to honor the terms and conditions set out in the current industrial agreement with the BEUMU and the BEWU.”
