Monday, April 22, 2024

Longer wait for FTC decision on rate increase

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Barbadians will not be paying more for electricity – at least for the next few weeks or so.

The long-awaited decision on the Barbados Light and Power Company’s application for a rate increase may be another month in coming.

Today, the Fair Trading Commission (FTC) announced that it disapproved several assumptions within the utility company’s application, giving them three weeks to comply with the new parameters of the regulatory body.

Delivering the report from the FTC’s head office at Green Hill, Hearing Chairman Dr Donley Carrington said that the interim rates would remain in effect. (CLM)

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