NASSAU, BAHAMAS — In response to the recent confirmation by the Grand Bahama Utility Company’s (GBUC) that utility rates will increase, The Government yesterday insisted that a “satisfactory case” for the adjustment has not been made.
In a statement, the Ministry for Grand Bahama stated that a reasonable consultative period could not have realistically occurred within the notice period for the rate increase.
“As many residents continue to piece their lives back together in the aftermath of Hurricane Dorian, we do not support this rate increase, as approved by GBPA,” the Ministry noted.
“A satisfactory case for the proposed increase has not been made. It is also noted that Intercontinental Diversified Corporation (IDC) holds a common shareholding in both GBPA (the regulator) and GBUC (the water provider). The issue of regulatory independence is currently before the court, and we eagerly await the outcome.”
The Grand Bahama Port Authority (GBPA) on Tuesday announced that it has approved the Grand Bahama Utility Company’s (GBUC) application for a rate increase, to be made effective on June bills. The GBPA also noted that it has sanctioned customer service standards that the water company must meet. Should the company fail to meet those standards, customer accounts must be credited.
The GBUC has maintained that 40 percent of its customers will see no change in their bills.