FTC grants BL&P interim rate increase
Barbadians may need to brace for an increase in their electricity bills, as the Fair Trading Commission (FTC) announced today that it has granted the Barbados Light and Power’s (BL&P) request for an interim rate increase.
However, the regulatory body has only granted the utility company 50 per cent of what they would have requested. During a press conference at the FTC’s Green Hill headquarters, Chief Executive Officer Dr Marsha Atherley-Ikechi disclosed that the increase is not retroactive and will take effect from September 16 until a decision is reached on the substantive application for a rate increase. The controversial rate increase hearing is scheduled to begin on Wednesday at the Accra Beach Hotel
Atherley-Ikechi also revealed that the decision came with a caveat, noting that if during the substantive rate increase hearing it is determined that the rates sought were excessive, then the BL&P will be required to reimburse customers with interest.(CLM)
More details to come in tomorrow’s edition of the Sunday Sun
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