Saturday, March 2, 2024

BL&P: FTC ruling keeping bills high

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BARBADIANS WOULD BE paying less for electricity today had the Fair Trading Commission (FTC) not rejected a plan by the country’s power company to hedge fuel prices.

That is what top officials of Barbados Light & Power (BL&P) are convinced of as the company for the first time yesterday offered a detailed response to the FTC’s decision to deny its application last March to have customers foot the bill of its plan to purchase large stocks of fuel at a negotiated fixed price.

For the second time in two years, the FTC said no to the BL&P’s oil hedging proposal.

Last month, the quasi-judicial body told the power company’s top brass they had failed to present a convincing case why they should add the hedging costs to the fuel clause adjustment component of consumers’ light bills. (GE)

Please read the full story in today’s Weekend Nation, or in the eNATION edition.

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