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Island Hopping With Emera

Barbados is the latest Caribbean island to feel the Emera Squeeze by Miles Howe On a small island north of Venezuela, 4,500 kilometres from Halifax, Barbados Light and Power (BLP) recently issued a news release. Energy use on the Caribbean island has hit a low not seen since 1974. “Some people are now simply just…

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Barbados Light and Power headquarters on Bay Street

Barbados is the latest Caribbean island to feel the Emera Squeeze

by Miles Howe

On a small island north of Venezuela, 4,500 kilometres from Halifax, Barbados Light and Power (BLP) recently issued a news release. Energy use on the Caribbean island has hit a low not seen since 1974.

“Some people are now simply just turning off all the electricity in their homes, especially when they’re not home,” says Carson Cardogan, a Barbadian ratepayer. “They’re pulling out everything. Every plug. Including the fridge. People are living virtually in the dark, in order to not pay Barbados Light and Power the hefty electricity bills.”

While the average Canadian might applaud such a downward shift in power consumption, this is not a question of Barbadians “going green” by choice. It is the work of Nova Scotia’s Emera, BL&P’s new owner.

Emera, the Nova Scotia-based company with a penchant for electricity generation, moved fast onto the scene in Barbados, purchasing a 38 per cent share in the largely nationally-owned BL&P in May 2010, and another 41 per cent in January 2011. When shares in BLP were trading at $12 on the Barbados stock market, Emera, which has been making ambitious purchases and clocking record profits since 2010, offered BL&P shareholders $25 per share – an offer they could not refuse. A few dissenting voices, on call-in programs and social media panels, urged caution against selling off the national power company to a foreign interest, but the deal went through unencumbered.

Read full article at Halifax Media Co-op

48 responses to “Island Hopping With Emera”

  1. David Avatar
    David

    Interesting to note that the Fair Trading Commission announced this week is about to investigate the fuel adjustment clause administered by BL&P.

    http://www.ftc.gov.bb/index.php?option=com_content&task=view&id=224&Itemid=2

    Public Notice: Engagement of Consultants Review of the Fuel Clause Adjustment

    Engagement of Consultants

    Review of the Fuel Clause Adjustment

    The Fair Trading Commission is seeking to engage the services of consultants to assist in the review of the Fuel Clause Adjustment (FCA) administered by the Barbados Light & Power Company Limited.

    The review will include an assessment of the BL&P’s method of application of the FCA, use of generating equipment and consideration of alternatives to the current method.

    Interested persons or companies may view the Terms of Reference here.

    Dated the 20th day of January 2012

    Peggy Griffith

    Chief Executive Officer

    Fair Trading Commission

    Telephone: 424-0260

  2. old onion bags Avatar
    old onion bags

    Simply……we getting rob by everybody. Govt>sell oil to BLP..>sell power to public..with more markup and vat<< <<merchants put on more Markup and Vat again on us.
    FTC my bot bot…..tell me if they every rule on anything in the public favor.?

    Come on Barbados….FTC is just there to appease the public that some body looking into matters for the small man…….a real travesty .

    Hear them again today,,,,,,BLP not making any unfair profits by their methods of billing…..even my 14 yr old could see otherwise,,,,,

    Why can't we have an actual "read" bill every month ? Do some people live as far as Alaska ? Can't they afford to increase the no. of meter readers from what 8 is it? Don't they see people want employment ?

    It does not take an ACCA or CGA to see that millions can be taken in 1 month (30 days interest).. and the consumer( who was overbilled) gets none of that interest whatsoever….telling you about an adjusted credit. FAIR …? could never be.

  3. Hants Avatar
    Hants

    Nobody on this planet invests out of the goodness of their heart.

    It is all about maximizing profits and Canadians are good at that.

    The FTC must vigorously monitor BL&P and Bajans need to continue turning off their lights and conserving.

  4. Rosemary Parkinson Avatar
    Rosemary Parkinson

    Thank you Miles Howe for this. I have read every inch of your article with great interest. (By the way…we just call ourselves Barbados not the Barbados but hey! whose making a fuss when you’re on our side…but I know my Bajan people – they will jump on ya fuh dat and make a huge fuss over it for 9-days…yes! Sir! that is what we are called now, the 9-day wonders. Shout and scream for 9 days and calm right down and go off to the beach for a rum punch and a swim in our crystal clear waters!

    But Mr. Howe…you put a smile *smirk* on my face with your words. Guess I am not such a “fraud” any more when I question what is going on at Barbados Light & Power since Emera raised its head in these parts. Heard through the grapevine too…and please! this might only be a rumour but…Emera has stopped all their great and promised plans to upgrade Barbados Light & Power’s plant – some of them literally in mid-air for they were actually started under local contractors. Everyone just sent home overnight…no reason, no date for recommencing, no nutting. Because of this, the island is running out of power in a kind of a way, and they (BL&P) “has a plan” – to shut off certain pockets of areas across the island in order to save power…so homes and businesses are sometimes going a whole day without electricity.

    Of course, we all know rumours run rampant in these little islands…so whilst I am it…here’s another…rumour also has it that Emera are the ones basically demanding yet another hike in rates. Or else? No more upgrading is the answer – that is what!!.

    Oh! but that is not all …there are worse rumours…one being that Emera saw in Barbados a gullible lot of people, easy pickings as they say, and moved in swiftly to take the sheep by their ropes ’cause there were no horns to worry about.

    But then…what do I know…just a consumer is all I am…and one who every time she screams about what kind of bills I am paying, is made to feel that it is all because I do not wish to pay my same and love to just keep power on willy-nilly. What gets to me is that yes! I have done all the tests, turning off this and that and testing how fast the metre turn round and round, had a professional electrician at my side too….and there is absolutely nothing wrong with my equipment….even went away for a month and turned everything off, pulled every plug and only left on one energy saving fridge (well excuse me fuh dat!)…and still got an enormous bill.

    So to raise a bill from a fluctuating bill that approximates $300 a month in 2009, to $700 in 2010, to $1,800 (US is half those amounts Mr. Lowe) in 2011 (by the way the latter amount when the price of oil was down, down, down) when all we at this residence have done is make further adjustments to “save on energy” still does not seem right to me, and personally I do not feel it takes a rocket scientist to figure that out! Hence my veins bursting at the seams. Mostly I guess because I doan like de smell of rat!!!

    What is worse and even ‘chuped’ as we say in the islands…is that when comparing with consumers who are using more, their bills are less in many instances. Mind you, companies are suffering something even worse…one business not too far from where I live got a whopping $23,000 bill this last month as compared to about half of that from the previous. I see this as targeting certain homes and businesses on some months in certain areas – a sort of “let’s play the dopes” strategy. The ‘interim bill’ being the great umbrella under which much is hidden. Let us continue to confuse the sheep syndrome if you ask me. And all this time, Emera and the BL&P seem not to be concerned whether Barbadians will lose jobs when companies can no longer afford to run, or when Barbadians like myself will have to rely on candles, gas stoves and no fridge. Because they are now apparently saying “give the rates a hike or else”. Back to the dark ages we go on this wonderfully developed Caribbean island of ours and that will definitely augur well with our tourism business…our biggest earner when it comes to dollars and no sense!

    Those who love Emera now, raise yuh hand!! Those who think that Emera and BL&P gine get their way again, also raise yuh hand! I simply rest my case and shall wait with bated breath to see what happens over the next few weeks, months, possibly years.

    By the way my fellow countrymen, the real worrying rumour is…there is not enough power to deal with Barbados coming out of BL&P….hmmm.

  5. Visionary Avatar
    Visionary

    Hants

    I see you are not bajan

  6. Hants Avatar
    Hants

    @Visionary,

    I am Bajan. I live in Canada. I agressively conserve energy at my house.
    What saves me money in Canada will do the same for consumers in Barbados.

    Conserve or let Emera BL&P jook out wanna eye.

  7. David Avatar
    David

    Bear in mind Senator Jepter Ince admitted the BNOC hedged oil purchases which probably explains why Barbadians are paying high energy prices when others are paying low.

  8. Hants Avatar
    Hants

    Here in Toronto we get electricity bills every 2 months and they are based on a meter reading prior to the billing date.

    it must be nice to collect money in advance of delivery of service.

    Guess Emera used the Barbados business model.

  9. Visionary Avatar
    Visionary

    Ok Hants
    That explains it… you being in Canada…well boy they guckin out we eye fa real conserve or no conserve…….and the FTC …a bear joke….
    As you know a bajan aint stupid …something wrong (Read Onions and Ms. Parkinson)….if they don’t get real ….we go have to take matter in our own hands and make them run and left it…watch

  10. Carson C. Cadogan Avatar
    Carson C. Cadogan

    “Is Emera bad for business? ”

    We were warned ahead of time but unfortunately we ignored good advice.
    Even the son of the late Prime Minister Tom Adams cautioned against selling a controlling interest in Barbados Light and Power (BL&P)to a foregin entity including EMERA.

    SOME OF US WERE JUST PLAIN GREEDY!!!!!!!

    As the old people say “what sweeten Goat Mout does bun he tail”. Boy are we getting out tails burned. The thing about it, most Barbadians were not part of the TSUNAMI OF CASH which was paid out by EMERA to aquire the controlling interest in Barbados Light and Power, but they are paying a terrible price in the form of sky high Electricity bills. I dont believe that it is going to better anytime soon.

    However I put the blame squarely on the shoulders of Barbadians. Barbadian Management at Barbados Light and Power that is. The Barbadian Mangement team at BL&P in the lead up to the sale were on a holy crusade in order to convince others that the best thing to do was to sell their shares to EMERA lock, stock and barrel. Then we found out why. They owned large blocks of shares in BL&P and stood to make a mint from the sales of the shares.

    So the other foolish Barbadian shareholders sold their shares to EMERA and now we are where we are due to combine stupidity and GREED. I say stupidity, because we were warned not to sell a controlling interest IN BL&P to EMERA.

    I suspect that what will now take place as a result of this monumental ignorance on the part of some Barbadians, they will now have to take all of the money they received for their shares and pay down their now grossly inflated electricity bills. Talk about poectic justice!!!! Let’s see how long the money will last them.

    What the rest of us will have to do is to find out who these idiots are that sold their shares and take our electricity bills to them and have them pay the difference between what we used to pay for electricity before and what we are paying now. That would not be so hard to do as the Barbadian Management who sold up the river are still employed at BL&P.

    PS
    One can always tell when something is going wrong or about to go in a company in Barbados, a black person is appointed as it’s head.

  11. Random Thoughts Avatar
    Random Thoughts

    Quoting Carson C. Cadogan “The Barbadian Mangement team at BL&P in the lead up to the sale were on a holy crusade in order to convince others that the best thing to do was to sell their shares to EMERA lock, stock and barrel. Then we found out why. They owned large blocks of shares in BL&P and stood to make a mint from the sales of the shares.”

    Duh!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    “

  12. Miles Howe Avatar
    Miles Howe

    Thanks for posting this. I’ve got to do a couple local stories on our own problems with Emera here in Nova Scotia. I’m ashamed to say the beast was born here! They have a really shady practice that they do up here, that I’m not going to tell you about yet, but a lawyer friend of mine says is completely illegal. I’ll keep you updated on our situation. Good luck.

  13. Hants Avatar
    Hants

    I do not like the practice of estimating usage to produce a bill for any utility.

    This means you should analyze every bill you get to make sure the correct adjustment is made based on the meter readings.

    Then there is the issue of maintenance and accuracy of the meters.

    Bajans must use less electricity.

    Don’t expect any breaks from Emera.
    They are loyal to their investors and will try to squeeze as much profit as possible out of BL&P.

  14. PM call elections now Avatar
    PM call elections now

    Carson C. Cadogan | January 26, 2012 at 10:33 PM |What the rest of us will have to do is to find out who these idiots are that sold their shares and take our electricity bills to them and have them pay the difference between what we used to pay for electricity before and what we are paying now. That would not be so hard to do as the Barbadian Management who sold up the river are still employed at BL&P.

    … and the GOB/NIS.

  15. Carson C. Cadogan Avatar
    Carson C. Cadogan

    “Bajans must use less electricity”

    There is no way out for us.
    I am sure EMERA will soon find a way to make us pay more for the less electricty we are now using, mark my words.

  16. Visionary Avatar
    Visionary

    Hants

    Tek it light…..Bajans go find a way to deal wid Emera…after elections,
    Owen going find a solution ..just watch. They say they want an increase before election….tell them BOO..shut down the company.

    @ Miles Howe..many thanks for your input, we welcome it.

  17. Alan Avatar
    Alan

    We could go communist, nationalize BL&P and revert back to a parliamentary democracy well before before a Canadian carrier group arrives in our waters. But we have to act fast before EMERA imposes a low usage penalty.

  18. Rosemary Parkinson Avatar
    Rosemary Parkinson

    @Miles Howe. Please keep us updated…you have no idea how your information is helping us to see the light! I bless your heart.

    @Barbados…go stock up on candles before the merchants find out there is a run on those and put the prices up!!! Ha ha haaaa….

    *NOT FUNNY* but true.

  19. Visionary Avatar
    Visionary

    @ Alan
    Carrier group my blog….to do what camp out amongst the ole steel pipe and cable at Spring Garden Brighton ?….. more like a canon to silence a wasp
    …would never happen Ole Maple leaf never went to war with anybody over dirty trading.( international Law)
    ..Because some made a mistake to sell ..don’t mean others ways can’t be found to made it difficult…international lobbying works wonders with those who wants to seem unblemished by dirty practices.. and that one method don’t take a communist.

  20. Visionary Avatar
    Visionary

    @ Alan

    You ever heard of strikes down time and even material sabotage.
    If that fails …whip out the candles and lanterns….you will see how fast they realize the ROI just aint cutting it and …….you know what sell.(hip hip)

    Don’t for one moment think Bajans could not go 9 months on candles and lanterns to prove a point ..Bud.

  21. Visionary Avatar
    Visionary

    @ Carson
    “So the other foolish Barbadian shareholders sold their shares to EMERA”
    Mussel it.

    I excuse your lack of knowledge…as you seemingly have no idea of who owns what in Bdos..in conjunction to race.
    But there again some like to align themselves with who they so wish for a purpose.
    There must be a reason why persons of a paler complexion in mgnt at BL&P sought out to purposely mis -inform (betray) fellow Barbadians into accepting the offers $25..then within six month share prices skyrocketted to the benefit of EMERA…..that’s enough proof to me of fraud (inside-help trading).

  22. John Avatar
    John

    A way around the high power bills is to find different sources of energy or to minimise consumption.

    Power from the sun may be attractive but it also has a high capital cost for individual households.

    Power from wind can also also be capital intensive.

    Sure there are houses that don’t rely on BL&P but my gut is those households have a person or persons who are technically inclined and know how to deal with electricity.

    UWI Cave Hill produces graduates who are mainly consumers of power ….. Sociology, Management, History, Information Technology ….. a huge overall percentage of the investment in Tertiary Education when compared with the “hard” sciences and engineering.

    This I think we will regret long term but the cold reality is the demand for graduates in the “hard” sciences and engineering is small.

    If BL&P needs to retool to use alternative sources of energy it too will face high capital costs.

    Could the previous shareholders of BL&P come up with the capital?

    Perhaps, perhaps not. What if they had not sold their shares and the electricity cost remained high?

    They would still be the bad guys but not Emera, ….. like they are now!!

    They can’t win!!

    Maybe they realised this and simply moved on.

    Suppose another source of energy is gas out of a pipeline as yet unbuilt.

    Who builds it?

    Who keeps it running?

    Who comes up with the capital?

    We could use the NIS funds but alot of people are angling to get those funds for their various projects ……. which will also need electricity that is not exorbitantly priced!!

    We may simply not have the financial and technical resources to do it.

    Maybe we need an investor in the Power Industry who has the werewithal to make cheaper electricity available. Maybe with other players with access to finance and technology a cheaper source of energy can be deployed.

    Emera may or may not be such an investor.

    Sure would be great if somebody in the know would say something definitive and let us know if we can see an end to our misery …… or …. not.

    Till things change we just need to keep consumption down and only buy what we can afford, painful for all, Emera ….. and us.

  23. John Avatar
    John

    BL&P has close to $600 million in capital employed.

    Avinash scrunting to get the last $50 million from NIS to make up the capital needed to start and I presume complete Four Seasons … he says,

    ….. and energy costs are such that they could sink it once it gets built. Rich people did not get rich by spending their money willy nilly soexpect they will factor in all sorts of costs attached to their investments before deciding to buy a condominium.

    Seems like our strategic planners are either not planning or keeping very quiet.

    I don’t like it.

    The islands of the Caribbean are riddled with politicians who need to be shown exactly how they will benefit before they let anything happen.

    Maybe I am rambling a bit so I will keep quiet.

  24. A-Fish Avatar
    A-Fish

    If any chance I’m working for a decent pay I could just invest some money on a Generator for my home from Williams Electrical install it and be gone with the Light and Power company altogether. It could be daunting but I think it will be worth it in the end.

    All I can do pay for fuel for the generator and it’s all over. Symptom for the long term solved, dollars in the thousands saved.

    Meanwhile in other news:
    http://www.bbc.co.uk/news/uk-politics-16752358

  25. John Avatar
    John

    A-Fish | January 27, 2012 at 11:55 AM |

    All I can do pay for fuel for the generator and it’s all over. Symptom for the long term solved, dollars in the thousands saved.

    +++++++++++++++++++++++++++++
    Before you do it figure in the capital cost of the generator with whatever amortization you think fit, longterm maintenace, and the cost of having the electrical modifications made to your house.

    Then look at the cost per kwh you will incur to keep the generator running.

    If it is lower than the fuel charge from BL&P and the difference will finance the first set of costs it probably will make sense.

    You can probably also work out how long it will take to pay back yourself for the capital belonging to you which you employed.

    Suppose the fuel charge suddenly falls and electricity costs fall?

    Seems unlikely, but it could.

    Don’t rule out solar if you are so minded. It’s fuel charge will be zero.

  26. John Avatar
    John

    http://www.homepower.htmlplanet.com/solar-vs-diesel-generators.html

    Found this article which may help.

  27. John Avatar
    John

    The other thing I noticed in the article was the price per kwh was ten cents, US I assume, twenty cents BDS.

    The price of a kwh of electricity here includes forty five cents for fuel and then there is VAT.

    We really have a compounding of problems.

  28. John Avatar
    John

    If we go by the article on the diesel generator it looks like one gallon of diesel produces 10 kWh.

    What does a gallon of diesel cost at the pump?

    I don’t buy but I saw a figure of $2.53 in an article on BFP from sometime in 2011.

    If the conversion rate is accurate for diesel at the pump then the fuel charge for diesel generator would be 25.3 cents per kWh, that is 20 cents lower than the fuel charge BL&P passes on to the customer.

    That now is downright weird …… maybe I got a wrong assumption somewhere in there.

    I was fully expecting the fuel charge for a diesel generator to be less but approaching that from BL&P, not almost 50% lower.

    Maybe there is more in the mortar than the pestle after all.

    This needs a closer look.

    It may just be an error on my part or the price of diesel at the pump is subsidised.

  29. old onion bags Avatar
    old onion bags

    @John

    Take it from me …the price paid at the pump for diesel is considerably higher than that sold to BL&P from BARNOC….(where Govt makes its killing). Not to mention there is 4347 and 4852…blends of diesel.. or maybe a cocktail mix….remember its diesel- compression ignited.

    Secondly, we have economies of scale and synergy ( laws of production) coming into play….only an independent study conducted by audit engineers would give true figures that you seek in your somewhat primitive analysis…

    Nice thinking though….those figures would be closely guarded as you could imagine.

  30. Miles Howe Avatar
    Miles Howe

    Here’s an interesting link with some information about smart meters, which may be what Emera is using down there.

    http://www.watershedsentinel.ca/content/plans-renewable-energy-spin-and-lies-global-energy-grid

  31. Boy Blue Avatar
    Boy Blue

    @Miles Howe……..subject to correction ,but I read somewhere that the 19% shares which Emera had in Lucelec ,were sold / transferred to Barbados Light & Power Holdings, the entity that manages BL&P

  32. Brutus Avatar
    Brutus

    These statements in the Miles Howe article are entirely false:

    “Later, an investigation by the Fair Trade Commission (FTC), Barbados’ regulatory body, suggested that BLP shares were devastatingly undervalued, and should have been priced in the $40-50 range”.

    “The FTC, as regulator of BLP’s power rates prior to the sale to Emera, would have been well informed of BLP’s assets and net worth. To emerge post-sale saying that Emera had purchased a more valuable company than they thought they had is suspicious indeed”.

    And this statement is entirely misleading:

    “Before Emera purchased BLP, there appears to have been no need for an emergency-style government fund for the nation’s poorest to pay their power bills.”

    If you take those out there is not much left in the article that relates to Barbados or any evidence that Barbados is feeling the “Emera squeeze”.

    Does anyone care?

  33. John Avatar
    John

    old onion bags | January 27, 2012 at 4:42 PM |

    Secondly, we have economies of scale and synergy ( laws of production) coming into play….only an independent study conducted by audit engineers would give true figures that you seek in your somewhat primitive analysis…

    ++++++++++++++++++++++++++++++++++++
    Sometimes it is worthwhile to go back to basics, a practice I preached on the Alexandra issue.

    Isn’t the audit being done now, ….. or atleast about to begin?

    I have to do some more thinking and reading about the aspect I raised relating to the energy density.

    I had never thought about it that way before.

  34. Hants Avatar
    Hants

    Bajans must be persuaded to conserve electricity.

    The “intervenors at rate hearings will continue to fight for consumers but individuals must try to save money by turning off lights and appliances when not needed.

  35. ac Avatar
    ac

    A Canadian company Solaman Engery has announced plans for a US 450million solarpowerplant the largest one in the carribbean to be built in Jamaica

  36. old onion bags Avatar
    old onion bags

    Thanks John

    With the FTC conducting an audit ..is like Emera conducting the audit…if they had been independent from the start we would not be in this mess.

    It so sad ….FTC where is the loyalty….it does not take much for these international THUG to find a way to corrupt bajans who… all they see is a BIG HOUSE CAR AND JOB.
    Not once has the FTC ruled in favor of the public ..(they were mandated to protect)…I lie ?

  37. David Avatar
    David

    An old article from Dec 2011 but the basis of unexplained curiosity nevertheless. Is this the same story the Nation has now published?

    CEO of troubled Emera Caribbean leaves post December 28, 2011 – 5:14pm By JOHN DeMONT Business Report
    A high-level Emera Inc. executive with key responsibilities for the utility’s troubled Caribbean investments has resigned.
    Wayne Crawley, president and chief executive officer of Emera Caribbean Ltd., tendered his resignation on Dec. 21, effective immediately.
    When reached Wednesday by The Chronicle Herald, Crawley declined to say why he quit.
    “It’s Christmastime and I’m just spending some time with family.”
    A Emera Inc. spokeswoman also declined to provide any details about Crawley’s move other than to say that the company “wished him well in future endeavours.”
    Crawley, a chartered accountant who joined Nova Scotia Power Inc. (Emera’s predecessor company) in 1989, was a high flyer at the Halifax-based energy company.
    Over the years, he took on roles with increasing responsibilities at Emera, eventually becoming vice-president of corporate development and strategy. Report on Business magazine included him in its 2001 list of Canada’s top 40 under 40.
    In 2009, Crawley became president and CEO of Emera Caribbean, a holding company that includes Grand Bahama Power Co., Barbados Light & Power Co. Ltd. and St. Lucia Electricity Services Ltd.
    Emera spokeswoman Sasha Irving said that Crawley’s role in that region was mainly business development rather than operational.
    Freeport-based Grand Bahama Power has been in the eye of a hurricane in the region, where soaring power bills are inflicting hardship on residents and being blamed for driving industry away from the economically depressed island of Grand Bahama.
    Crawley’s Caribbean responsibilities have been taken over by Sarah MacDonald, president of Grand Bahama Power, and Bob Hanf, executive chairman of Light & Power Holdings Ltd., another Emera subsidiary in the region.
    Crawley’s other corporate development duties for the Halifax parent company were taken over by Nancy Tower, Emera’s vice-president of business development.
    (jdemont@herald.ca)

  38. old onion bags Avatar
    old onion bags

    them reorganizing…nothing else
    shark feeding fenzy…..top man get bite ..happens when greed sets in.. they can’t believe they eyes than they pounce upon this Caribbean gold mine

  39. Carson C. Cadogan Avatar
    Carson C. Cadogan

    The Management at Barbados Light and Power should be put on trial on racketeering charges.

  40. old onion bags Avatar
    old onion bags

    @ Carson
    Nobody force NIS Board to sell….only in the case of a prospectus being issued ( formal accounting invitation to buy)..I believe, that a suit would be successful.The NIS Board would have to prove that they were enticed to invest solely on the information issued by BL&P..and only on those grounds they made a decision…Give Hal Gollop a call…I am not a lawyer

  41. David Avatar
    David

    The decision by the NIS to sell off a significant % of holdings in BL&P is interesting when we hear the reasons why it wants to invest in Four Seasons. The BL&P is a solid investment in a utility stock which maybe described as guilt edge. Instead we sell BL&P to invest in a riskier transaction. Bear in mind NIS is said to have surplus cash.

  42. old onion bags Avatar
    old onion bags

    @ David
    Precisely.How in the name of sound investment wisdom can the actions of this Board be reasoned. I also notice they firstly removed Mr. Carrington CGA and send him to White Park Rd,before these underlings.
    This is why I maintain what is the real purposeuse for the $60 million airmarked for a dead project coffers?Can it be that such monies will be diverted to some other more pressing cause….at the eleventh hour ? It wont be the first time either….

  43. Hants Avatar
    Hants

    The BL&P is a solid investment .

    The roi on this investment was not enough to reinvest in job creation.

    Four seasons is a way for government to instantly reduce the unemployment rate and if we are lucky the world economic recovery will coincide with the completion of the hotel and villas.

  44. old onion bags Avatar
    old onion bags

    Hants
    Given the prevailing economic climate …which we have been constantly reminded of for Bdo’s woes….how come this seems like a golden opportunity to invest in a Black hole other foreigners have given up on ?
    sew -saw-see-saw

  45. John Avatar
    John

    All we need to figure out is who gets the fuel charge and is it fair.

  46. Rosemary Parkinson Avatar
    Rosemary Parkinson

    So we get our monthly bill for December 21st. to January 21st (or thereabouts) 2012 on Friday.

    So we decide to go check the bill against what our metre is currently reading.

    Hmmmm. Shock. Horror. Dismay. Like we did not know before.

    BL&P have charged us for hundreds of kilowatts… more than we have used…and their so-called reading (*NOT*) was done ten days ago. An’ I am supposed not to get vex and rant? This is the second interim bill. Well we have been told this is an interim bill (BL&P were called). November/December was also an interim bill. Or so we were told.

    So how many interim bills do we get now that Emera have pumped all this supposed great amount of investment in your company that was supposed to give us better power and more manpower?? Or can you not tell us that because you still want us to believe that your people read them every other month. And what happened to the fact that you said if an interim bills comes one month, and it was too high, you get that money back on the next bill. So wey we money?????

    Both bills are in the vicinity of $1,200 and please let me repeat for those who cannot seem to get it. ALL HAS BEEN CHECKED. NO AIR CONDITIONERS ARE ON LIKE BEFORE. ALL POSSIBLE POWER SAVING HAS BEEN ADHERED TO. And to add insult to injury the business not far from us with air-conditioners + on all week…$500 a month..

    BL&P want me to monitor my meter on a daily basis, now I supposed to read same said meter and call dem and tell ’em it wrong. Anything else you would like me to do for you BL&P? How about I come over with tea and crumpets every afternoon?

    I PAY FOR SERVICE AND SERVICE INCLUDES YOU READ MY METER CORRECTLY EVERY MONTH WHETHER YOU WANT TO OR NOT, AND THAT I GET A TRUE AND ACCURATE BILL OTHERWISE IN MY BOOKS IT IS CALLED FRAUD. Sorry. Sorry. Sorry. Alledged fraud. In Queen’s English…alledged fraud. *Yeah right!!*

    I still say we should join Bahamas with their action against Emera. Why are we not making more fuss here? And why are there people still thinking that Emera and BL&P are squeaky-clean. Even one at this stage, is one too many.

    Must say…I would like to think they are. I used to think they were.
    Well…at least BL&P. Emera smelled bad but hey! I am just a dumb fraud anyhow.

    Mr. Miles Howe…please do not forget us….I certainly am one who is so looking forward to more posts from you as the truth is unraveled…slowly but surely.

    Oh! and about that CEO suddenly departing from Emera? Isn’t that the way? I mean if a priest is caught screwing a little boy, is he not just sent off to another parish somewhere? Or if a Bank Manager has obviously inveigled some silly investor to invest in a company that was bankrupt already, is he not also like sent to another post far away? Hmmm what about men that have obviously removed investments in certain insurance companies through wrongdoings, aren’t they sort of protected by their friends? Life has certainly changed. We were once upon a time good, honest people. Ah well…and the beat goes on, and on.

  47. David Avatar
    David

    @Rosemary

    Sorry to hear about the mystery which surrounds your electricity bill.

    The only explanation which is in left field but must be considered is if there is an illegal connection to your supply.

  48. Alan Avatar
    Alan

    I believe the main point Rosemary is making is that her bill reflects a consumption that is not in agreement with a casual glance at the meter. An easy way for this company to get short term interest free loans from their customers. which may or may not be repaid according to each customers vigilance. I can’t remember the last time we had to bring in the dogs so our meter could be read. The other issue about a commercial enterprise with running AC paying less than half her bill can only suggest a faulty meter or illegal connection. And I’d be more inclined to suspect the former.

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