HIGHER ELECTRICITY COSTS and petroleum prices are a certainty if Government sells the Barbados National Terminal Company Limited (BNTCL) to one entity as it seems prepared to do, warns a locally based regional energy think tank.
Caribbean Energy Partners (CEP) contends this will happen when the new owner seeks a commercial rate of return on their investment in excess of the half per cent now in place by Government. This move would be consistent with what Mobil did when it controlled oil imports here.
What’s more, with one entity, their monopoly could negatively impact supplies to competitors as well as restrict their access to loading facilities at the terminal, cautioned the CEP in its online newsletter that addressed the sale of BNTCL and whether it would be an opportunity or burden to Barbadian consumers.
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