We note a statement from The Grand Bahama Port Authority (GBPA) confirming approval of the rate adjustment on water services by the Grand Bahama Utility Company (GBUC).
Consistent with our statement issued on 13th April 2023, we are of the view that a reasonable consultative period could not have realistically occurred within the notice period.
As many residents continue to piece their lives back together in the aftermath of Hurricane Dorian, we do not support this rate increase, as approved by GBPA. A satisfactory case for the proposed increase has not been made.
It is also noted that Intercontinental Diversified Corporation (IDC) holds common shareholding in both GBPA (the regulator) and GBUC (the water provider). The issue of regulatory independence is currently before the court, and we eagerly await the outcome.
Again, the Government is dedicated to tackling the long-standing obstacles that have hindered progress on Grand Bahama Island.