Sunday, April 14, 2024

Blame oil prices, says expert


Share post:

OIL PRICES, rather than Barbados Light & Power’s (BL&P) rate increase, should be blamed for the steep electricity bills received by some businesses.This assessment came from Jeremy Martin, managing director of CarbonAqua, a United Kingdom-based company specialising in reduction solutions for energy and water consumption.He was speaking to BARBADOS BUSINESS AUTHORITY last Wednesday following an energy savings seminar hosted by Renew Energy Caribbean, at the Barbados Yacht Club, Bay Street, St Michael.In January, BL&P increased the kilovolt amperes (kva) demand rate from $4 per kva to $24 per kva and as compensation, reduced the base rate from 20 cents per kilowatt hour to 13 cents. “I’d heard rumours that there were some customers who had been very badly affected, that some had [very large increases],” he said, noting that this was not the case for the majority of business customers. “It’s been a change of what they’re paying but the total bill has not been that different,” Martin stated.He said businesses with steep increases were those “who have got relatively short working hours but when they work, they use a lot of energy”.He added: “Their capacity and their peak usage is very, very high, so obviously paying for that at $24 per kva rather than $4 per kva means that’s a massive change. Yet their total number of kilowatt hours in the year would be quite small.” Therefore, Martin said, the compensation in kilowatt hour rates does not save them very much. (NB)


Please enter your comment!
Please enter your name here

Related articles

US shoots down Iranian drones bound for Israel

The US has shot down Iranian drones headed to Israel after Iran launched its retaliatory attack early on...

Iran launches retaliatory strikes toward Israel

Iran has launched a wave of retaliatory strikes toward Israel, fueling fears of regional escalation following an apparent Israeli attack...

T20 World Cup trophy in Barbados

The countdown to the start of the 2024 the ICC Men’s T20 Cricket World Cup continues. Today marks 50...

Mother’s plea: Come home

“Donisha, I miss you, come home,” cried heartbroken mother Diana Cumberbatch. That was all she could manage before collapsing...