Grand Bahama Power Company wishes to clarify some misinformation that has recently appeared in the media as it relates to our rates and customers. GBPC seeks to foster an open relationship with all customers and we welcome the opportunity to share our plans and strategic objectives.
We wish to advise that there is not a 3 cent charge in our rates for rental generation. Those charges were removed in July 2012, when we finalized our new regulatory framework agreement.
We would also like to clarify that over the holiday’s, there were approximately 200 customers who had service disconnected for non-payment, not 500 as was reported, which represents about 1% of our customer base.
The latest Carilec benchmark study confirmed that Grand Bahama Power’s rates remain competitive within our region, placing us in the lower end of the scale. The improved efficiency of the new West Sunrise Plant and improved operational efficiencies resulted in a reduction of the fuel component of the bill.
Reducing our dependency on high priced fuel in order to continue managing costs for our customers is a part of our long-term strategy. We continue to study all alternative and renewable energy options to find the option that makes the best business case for our customers. Right now, that means bringing CNG to Grand Bahama. However we continue to look forward for the long-term and remain focused on making the right and sustainable business decisions for the benefit of Grand Bahama and our customers.