The following commentary was submitted by a CoopEnergy member in response to the January Members’ Report – Blogmaster
Secret Energy Deals – A Threat to our Future
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35 responses to “Secret Energy Deals – A Threat to our Future”
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“Dat en right” sums up the collective response. And the same collective will decide the best response is do nothing, “tings will wuk demselves out”.
This franchise extension, is merely one more link in the chain of removing transparency, and hence accountability. You can keep noise, but you cannot argue intelligently about that which you do not know?
It has been and continues to be systematic. One after another.
New NISSS…another election…anybody seen a report since 2007? Even know how much of YOUR money they have and WHERE it is? Nope.
The BAMC is spun into two Newco’s, anybody seen an accountability statement from either the old or the new?
Big news….Paradise to be developed by some developer. Anybody seen a single report confirming the stated transparency on the former/current owner of the lands CBL?
Bottom line…no report = no accountability.And they need none. For the electorate will give another overwhelming majority. Even the best limbo performer cannot get under the bar. It’s too low.
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Bushie is hard pressed to understand firstly, how in 2025 it is possible for a government to be so openly ‘shady’, …and in so many ways…
HOPE
STEAL houses
Four Seasons
Radical business
Energy and EMERA
ETC…etc……And secondly, what kind of people allows themselves AND THEIR MONIES, to be so loosely fritted away… WITHOUT A WHIMPER?
As Northern O said previously WRT figures given by the coop energy, those numbers shown for dollars removed from BL&P HAVE TO BE exaggerated…
So Bushie fully expected to see corrections published by the electric company, …by the public utilities board …and CERTAINLY by someone in government…
BUT SO FAR, not a word!!What the Hell!!!
What a place! -
This failed arrangement between CoopEnergy and the government of Barbados should be one to give the opposition parties political oxygen on the campaign instead of the trivial issues on offer.
Why not dig into the issue and distill it for the public?
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Barbados has repaid $8.49 billion in debt since 2018, nearly double the $4.83 billion borrowed in that period.
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@ Enuff
Thanks for that.
Surely you know that people who are already DEEPLY in debt, typically seek to pay OFF those debts – while MINIMIZING additional indebtedness, by INCREASING productivity – rather than by incurring ANY additional debts…Anyway…
Can we also have the correct figures for the dividends paid in foreign exchange to EMERA by Light & Power?
The intervenors gave us clearly exaggerated figures of over half BILLION up to 2021. LOL, if true it is no wonder wunna had to borrow $4.83 billion…So what are the actual dividends paid out?
And what is government’s position on the $99 million that the FTC ordered them to pay back? Anyone get charged for that? Hungry Bajans got charged and convicted for stealing biscuits from Massy…
…Or is it that stealing at such LARGE amounts is not considered to be crime bout here?What a place wunna running ’bout here!
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“Why not dig into the issue and distill it for the public?”
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LOL @ David
Name ANY person in either government or public political life that has demonstrated the interest or competence to understand this issue, or indeed any of the other critically FLAWED national policies that have resulted in BILLIONS of dollars being DRAINED from the island by foreign predators.
The politicians ONLY seem interested in getting themselves into positions to become the recipients of the few pieces of silver that are inevitably thrown to the Judases.One wonders if the people of Brassbados themselves even care about the way that we appear to be being raped…
Maybe we even like it…?
What a curse! -
@Enuff
You expect your last comment to wash in the BU space? The paying down of debt in Barbados since 2018 cannot be compared to you paying off your loans at a bank. There was the debt restructure, there was a lot of reprofiling using low interest loans to payoff loans at a higher rate etc.
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@Bush Tea
The challenge with properly distilling the issue though is that it WAS between public and private and as a consequence information flow was limited.
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The government having been accused of borrowing too much has repaid nearly twice as much as it has borrowed and is still flushed with forex while doing far, far more capital works than the previous government–the party the BUI supports. Is the BUI saying we’re worse off? The BUI is desperate. This strategy is 2008 all over again when the BUI members were kissing the money launderer’s feet. By 2010 we were tottering. When the BLP leads, Bajans succeed.
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Enuff…
“Is the BUI saying we’re worse off?”
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Well that depends on who you mean by ‘we’…
WUNNA – the many hands that cannot make one shiite work – seem to be MUCH better off that before.
Indeed wunna seem to have made RADICAL strides …and to be full of HOPE…But looking at the lotta brass bowl hopefuls that defied COVID to give wunna de vote … so they could watch wunna parade bout de wirl…
…NOT SO MUCH!!Poor Humphrey and his pall Saffrey got their hands full with poverty and despair…
So why would the BUI waste time with semantics?Wunna DEFINATELY better off…
The rest uh dem smelling Hell…
(But not stinking Bushie …
He gotta step father….)
LOL -
@enuff
A brilliant sound bite.
It maybe true. Maybe it isn’t.
Is the $1.5B in GoB bonds written off, considered debt repayment? The GoB neither services or is bound to repay those NIS monies.
How did the accountants treat the over $1B in payables, which were converted to J Bonds.
Are the many haircuts applied, taken at the amount owing, or the amount paid? One little company I had an interest in was owed $105,000 by the TB. The initial offer was $80,000, then it was reoffered at $55,000 as full payment. What is the repayment? $105,000 or $55,000.
So do $2B in actual repayments, become $4B in monies repaid?
But, none of those offending bodies owing large sums, like the QEH, the TB etc ever report. So we don’t actually know?
I also note, former Auditor General Trotman retired last April, after giving notice a full year before that. Do we have a new Auditor General? Why not?
How long did it take to replace MPs Hinckson, Holder and Layne? Priorities are clear?
Don’t get me wrong, I’m not claiming the lame duck DLP would be any better. This has been a hand in hand effort by the political class to suppress any form of accountability. -
@Bush Tea,
I wonder how many of wunna BU bloggers own shares in Emera.
https://investors.emera.com/stock-info/Dividend-Reinvestment-Plan/default.aspx
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Lol @Hants, you must be one to get a notice like that 😀 DRIPs are fairly common.
I have never owned a utility anywhere. -
Spun, spin, spin. I gine leave the echo chamber to echo. 🤣
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Lol…at least you realise and admit spin.
All of us are spinners. The is little to no, independent third party verification. -
LOL @ Hants
“Bush Tea, …I wonder how many of wunna BU bloggers own shares in Emera.”
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You REALLY mean to say that you wonder how many more of we are like you…It sounds like you asking this with a smirky smile pon yuh face too…
Up there ‘licking cork’ with easy Bajan money – extracted through we lectric company, like teking candy from a BB.Is it REALLY true that wunna tek up we $99 million in insurance funds that were put aside fuh a stormy day, and had a big dividends splurge up in Ottawa?
Based on the numbers dat Bushie seeing here on BU, …the rumour about how you and De Pedantic Dribbler buy new fishing boats a few years ago may be true after all…Not to mention NO, who is said to have invested in a yacht of the Russian Oligarchic class.
Wunna Canadians outdoing the Mercans now in this capitalist shiite
No wonder Trump want wunna as the 51st state….YES! …Bushie got some shares though…
But they are in a spiritual place – where common sense prevails,
NOT where a soon-to-be-worthless dollar will suddenly turn all these shiite asse(t)s into jobby…What a time!
What a world! -
Bushie
There is other media?
https://wicnews.com/barbados/only-9-of-89-hope-homes-ready-for-handover-sparking-public-concern-in-barbadosAs your hero @enuff highlighted, this is a spinners paradise.
Only 9? Well many of our artisans are getting good training? Support local en-trep-en-yers. And soon from now, all will be ready. Don’t study cost. Sheeple got a roof.
Wait Dwight and Ms Caddle running again? What Ministry will she get, before stepping down? I thought Dwight would join his high flying diplomatic bride in Africa. He must have a full pension by now? Or with these early calls, is he a few mumphs short? -
@ Enuf
You expect to come here and make statements bout how you pay down more than you borrow over a select period, wait you think all we here born big!!
First as Northern pointed out you wrote off over a billion dollars of NIS money not state money either, but the workers and employers money. In another country the government would of been long in court for that. Anyhow this is Bim so you managed to right off the $1.5 billion unchallenged. Now you come here bragging you pay back 4 million more than you borrow over a select period. What you want an award? You still owe the NIS then $1.496 billion boss after I credit the $4million you so fussy bout, that get pay back in excess of borrowed for the said select period.
Secondly you talking about debt down after you refinance your soul to lower you payments and extend your payment periods. So you want to compare numbers let me give you some to go and search for.
A. TOTAL DEBT OWED AFTER THE RESTRUCTURING.
B. TOTAL DEBT INCLUSIVE OF INTEREST AND OTHER DEBT SERVICE FEES OWED AS OF JANUARY 1ST 2026.
Come back and tell us how many tens of millions more we in debt now than in 2018, cause as I said above all we ain’t born big. When you kicking debt down the road you increasing debt service due to something called interest. So you could owe the same but have way higher debt service cost, as a result of this stunt. Let me give you an example.
You owe $100 at 8 % and got 4 years to pay and can’t even buy a roti at month end.
I say I going help you and give you $100 to go and pay off that EXPENSIVE LOAN and now lend you the same hundred at 6% but over eight years. You could now buy the roti cause you month payment down, but I own you ass for the next 8 years and I going rake in nuff more in interest (debt service cost), which inturn will cost you nuff more over the next 8 years.
That God Blyma is Bim in a nutshell!
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How about instead of buying a roti you invest the money . Dat roti is roads , health care , sewerage garbage , transport etc. that the previous gov had choking
Accounting and economics isn’t the same -
The thread let’s recall, is about an extension of the electricity franchise, without any discussion in the public sphere. Who else bid? Who was invited to bid? Where is the RFP?
It has not one shite to do with borrowing or repayments, or whether one buys pudding and souse vs contributing to a RSP. -
@ Northern
Yes we know but you can’t let foolish statements go unchallenged.
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JohnA
Talking about foolish statements, the condos in the GHS start yet? The government has been making accelerated payments on loans. Debt has gone from $18B in 2018 to $14B now, even with covid etc. GDP from $11.6B to $15B today. Debt to GDP from 179% in 2018 to 99% today. You can spin and spin like you tried to spin a story about condos in the Graeme Hall Swamp.
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Boss you don’t listen? You were told that the total debt INCLUSIVE OF INTEREST AND DEBT SERVICE HAS INCREASED.
We ain’t talking bout debt alone, we talking about debt and additional interest and charges as a result of extending the debt payments over a longer period. You also wrote off 1.5B of NIS MONEY AND CUT THE RETURN ON THE BALANCE FROM 7 TO 1%. Add all you write off back to the debt today and what you do?
Look who economy ain’t recover from covid by 2026 ain’t born yet. So talking bout recovering from covid 8 years later is a mute point. Lord you really struggling though!
Ask Ryan to explain it to you I can’t do much more to help you. Lol
As for the condos take it easy, what miss you ain’t pass you. Let elections pass and things settle back down.
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@ Enuf
I nearly forget that your ministers said after the debt restructuring, that the restructuring exercise saved the government in ” excess of 3 billion dollars and that is billion with a B.” So if I take them at their words and add even the 3 billion dem say was saved back to the $14 billion that you say we at now, then we back to $17 billion sir. But I ain’t done there, cause since the restructuring Mr Speaker, I have not heard the minister of finance make any provision for refinancing the NISSS FUND. I mean could dear you could at least of booked refinancing for them to the tune of a billion or so. Even if you mek the fund swallow the other $500 million you right off, the 1 billion “with a B” would of help we!
So with me only having gone to Brumley High, let me add the few numbers you and your party shared with me. Dem all in billions with a “B”.
14+3+1= 18
God Blyma you right back where you was before the restructuring and that is without adding in the additional interest and finance charges wunna run up from kicking the debt can down the road.
Right it late and my old ass need to rest. Night Enuf nice chatting with you. I done wid dat before I remember other debt to add!
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@ John A
Boss, do you SERIOUSLY get the impression that there is Enuff understanding of financial matters at the highest levels of our dictatorship?Have you noted that EVERY OTHER ministry enjoys a common spokesperson on all and sundry – with that notable exception?
You know how many of our politicians are at a loss with respect to such matters as assets, liabilities, equity, and current accounts?
So the ‘Hardwood Guru’ can run things…Decisions are made based on account balances and political spin.
So see if you can work out why they SERIOUSLY think that the ‘debt has gone down’ due to restructuring and write-offs. -
@ Bushie
I agree with you but don’t get me wrong Enuf is not lying, or in anyway quoting wrong figures. What he is doing though is quoting figures out of context and again that is his right so to do.
So a simple example is a man can say he is a millionaire because he owns a million dollar house. The fact that he omits to say the house has a $800,000 mortgage, does not make him a liar. So speaking of the fact that debt is down does not make enuf a liar either here, it just does not take total context into consideration. Now if the man above in my example stated he has net assets of 1 million dollars, he would be a blasted liar cause he owes away his tail! LOL
It’s like when you hear at budget time the MOF talk about how many billions we have in reserves, you never hear them talk about the the debt owed on most of these borrowed reserves. Again the MOF is not lying either, but they are also not speaking about NET reserves after debt either.
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The debt is down, loans are being paid interest payments are lower, repayment terms are longer.This means buses and garbage trucks can be bought, sewage plants upgraded, new water mains, new geriatric hospital built, qeh expanded and new/upgraded polyclinics etc etc. I ain’t taking public debt management advice for someone who read a basic notice and concluded condos in the swamp. BU can keep blocking my posts.
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@Enuff
That is the best you can do? BU blocking your posts?
Continue to do what you do best, cherrypick your responses.
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David
I can only say what has happened. The previous responses were blocked even if unintentionally.
You want me to comment on the “secret deals..: story. The FTC, town planning (Browne sits on the Board), advisory committee, tribunal and high court are all available to address the points he raised. With the opportunity for intervenors/public consultation at both the FTC and planning stage for sure. But answer muh, public intervenors were allowed in the Co-op Energy-Portvale “license”? Go continue to canvass fuh de DLP with your misinformation. *END*
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@Enuff
You implied BU blocked your posts which is incorrect. The problem is probably more to do your browser security policy where JavaScript maybe turned off screwing with refresh as a single example.
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@Enuff
Your predictable and disappointing last comment is unsurprising. It is no wonder we are in a morass of declining morals and standards. We cannot be fair or treat with issues dispassionately. You have been frequenting BU long enough to know what the BU household stands for. You may have the last word and congrats on your party victory in advance.
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Facts! Ask Bushie, he said it.
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The difference between us is that the blogmaster is not dependent on the trough to live.
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Oh Loss!
Someone is sounding vex Enuff!!Boss, why you don’t stop provoking though…?
…Next thing we know Enuff disappears from the blog …and re-emerges under a new name, like certain other persons who shall remain un-named.Enuff sounds to be stressed though…
Not like someone who is confident of victory..Or maybe perhaps, like someone who is FEARFUL of victory…?
– Someone who knows that Hell is about to be unveiled.
– Someone who is at a TOTAL loss for WORKING solutions.
– Someone who realizes that they have bitten off more than they are able to chew…It indeed sounds to Bushie that “uneasy lies the head that wears the crown”
BTW
Ask Bushie what…!!!?
LOL…
Ask muh nuh!!What a time nuh!!
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