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
