|GB Power rate increase|
|Tuesday, 04 March 2008 12:29|
Muddasick! So, Sir Albert, the Port Authority CEO, grants Sir Albert, the G.B. Power Company Chairman, permission to raise the rates. That must have been a 30-second discussion.
By the way, the 5% increase per household is only on the basic first tier of power consumed. If your bill has consumption in the 2nd or 3rd tier, look out, it's more than 5%.
Besides, let's not forget that Sir Albert is the Chairman of the company that sells the power company the oil that they burn. That's right: FOCOL, declaring record profits willy nilly. And let's not forget who the partner of Marubeni is, in the ownership of G.B. Power. Why it's Lady Henrietta, who no doubt needs increased revenue for litigation.
All of the other Out Islands of the Bahamas fall under the Out Island Utilities Act, except Freeport, but G.B. Power does supply power to East and West Grand Bahama. All the other Out Islands receive subsidized power rates, subsidized by the Goverment, in turn no doubt by consumers in Nassau. But, who subsidizes the rates to consumers in the east and west of G.B.? Why Freeport consumers do, of course, courtesy of our then Prime Minister of 1992.
Do you think G.B. Power duty pays for the power they send east and west? Do they pay duty on the percentage of the oil they burn to send power outside of Freeport? Somehow I doubt it. They don't pay duty for the power company vehicles that go out of the Poert Area do they? But wait, if it is no longer owned by the Port Authority does that make it an ordinary Licensee?
Alas, more questionable practices, by our so-called Port Authority owners and executives AND Government that have led to this disgraceful situation, rife with conflicts of interest, and rampant self interest.
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