BL&P: FTC ruling keeping bills high
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)
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