Parliamentarians debated bills related to energy sector reform in the House Of Assembly on Wednesday.
Prime Minister, the Hon. Philip Davis led the debate on the Electricity Bill and the Natural Gas Bill. In his presentation he sought to explain the government’s plans for the future of the energy sector and Bahamas Power and Light.
Davis said, “our objectives are clear. We want to lower light bills for Bahamian families and businesses. We want to ensure that the electricity supply is more reliable so that power outages are a thing of the past and we want to drive out country’s transition to cleaner energy.”
The Natural Gas Bill seeks to regulate the use of liquified natural gas for power generation. The Electricity Bill 2024 repeals the Electricity Act and the Electricity Rate Reduction Bond Act among other things. “For too long the cost of electricity has afflicted Bahamian families and businesses. For many their light bill at the end of the month comes close to or even tops their rent or mortgage payment. It’s a major expense and a major burden. We need system wide change because in order to reduce the cost of electricity for consumers we need a grid that is well designed, effective and efficient. The days of band-aids and temporary fixes are behind us. Frankly our grid is at the end of its life. We simply cannot lower costs or meet our full potential as a nation with outdated, deteriorating energy infrastructure.” Davis said.
The Prime Minister told Parliamentarians that experts have said $500 million of capital investment is needed to rescue and modernize the nation’s electricity grid. He also assured Bahamas Power and Light employees that they will not lose their jobs and pensions and other commitments will be met.
