Grand Bahama Chamber of Commerce President, Ralph Hepburn spoke with ZNS News about the Grand Bahama Power Company’s (GBPC) equity rate adjustment initiative on Monday. According to GBPC the initiative is a revision of the company’s tariff structure designed to create a balanced distribution of electricity costs among customers.
Hepburn said the Grand Bahama population remains too small to significantly reduce operational costs. “We’re still not in the vicinity of the number of customer base for the energy company to provide and to reduce cost where they want it. It’s something that is being caused by external means instead of internal operations,” he said.
While the chamber awaits feedback from local businesses on the impact of the GBPC rate initiative Hepburn said the adjustment will provide meaningful relief, especially during the summer months. “So in terms of the dollar figure we might not see that reduction right away. But in terms of comparing the cost of energy there is some reduction that is noticeable. Timeframe, we would have liked to have seen it done earlier but we know everyone has to go through the process of doing the proper analysis and the assessments.”
The Chamber President also said the move makes Grand Bahama a more attractive place to do business for investors. Hepburn noted that additional measures are still needed in this regard. He said, “transshipment needs to come on stream and be able to have persons to be able to source things in. The airport is a most. That’s gonna be part of the investment strategy. Not just an abundance of labour but a skilled, capable labour force and the ability to get to markets in a timely manner.”
The rate equity adjustment was implemented for residential customers in June 2026 and is expected for commercial customers in July 2026.
