Many Barbadians are still fuming at the decision by the government of Barbados to sell part of its 21% holdings in Light & Power Holdings (L&PH) to Canadian company EMERA. Many Barbadians are still fuming at the ruling by the Fair Trading Commission of Barbados to approve Barbados Light and Power’s application for a 10% return on rate base. The deed is done but it does not stop some of us from remaining vigilant.
The decision to allow a strategic asset like the Barbados Light & Power Company to become almost 100% owned by EMERA remains a concern for BU. It is noteworthy a similar acquisition occurred in Bahamas in November 2011 but unlike Barbados citizens of Bahamas have decided to become proactive in light of a deterioration in the quality of service since the acquisition of Grand Bahamas Power Company. The regulatory framework in the Bahamas appears to be a little different to Barbados’s which should not detract from our concerns.
BU hopes to join with others in the coming weeks to probe the integrity of decision making by EMERA. If we are to judge by the reports posted by Miles Howe of the Halifax Media Group there is an opportunity for Barbadian consumers to demand answers to a few questions.
Here is the opening paragraph from another article posted by Miles Howe:
The Emera Connection
Nova Scotia and Grand Bahama Share Similarity in Private Power Monopoly.
by Miles Howe
Two weeks ago, two gentlemen from the Bahamas came to Halifax, looking for answers from Emera. Troy Garvey and Jonathan Glinton represent Operation Justice Bahamas, and they have their sights set on taking the home-grown power monster to court back on the island. Set sail for corporate misadventures as we embark upon…The Emera Connection.