Left to Right : Kirk Russell, Pastor Eddie Victor, Ruby Stubbs and Deron Brooks
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(October 21 Statement) The Island of Grand Bahama is meant to be a place where businesses are
profitable, where people are prospering, a place where all can experience the
Bahamian dream. Our economy is in need
of significant traction that will propel this Island forward into a prosperous
economy that all can tangibly feel.
Today we are assembled in the Chinese section of the International
Bazaar, this once major tourists and local shopping center was fully occupied
with tenants who operated shops, restaurants and offices. Businesses here use
to employ hundreds of Bahamians and attracted thousands from around the world
and locally. Today the Bazaar only has a
few businesses operating and this once prosperous shopping center is in ruin
and disrepair.
Across Grand Bahama over the years we have seen closures of Businesses
and Shopping Complexes like the Bazaar. The answer is not to tear down these
structures down but to rebuild, restore and bring transformation to our
economy.
A major impediment to transforming our economy is the high cost of
energy. The cost of energy affects the
cost of living. The Grand Bahama Power
Company / Emera has submitted a case with studies and reports to Regulatory
Committee of the Grand Bahama Port Authority, with the intention to increase
electricity rates.
In a tribune article published on October 8, 2015 headed ‘GB Power Rates
To Lower Cost For 85%’, this story particularly referring to the ‘All-in’
electricity rate. The story claims that 85% of residential customers will
experience a reduction in rates, but no reference were made to business commercial
rates. Also, the ‘All-in’ rate referred to is the fixed electricity rate and
fuel surcharges combined. By combining both
these rates it will give the appearance that rates are slightly going down, but
one must consider that oil prices are at low record prices. The netting of these rate does not give us
the complete picture. Based on our
findings Grand Bahama Power Company / Emera wants to increase the based rate of
electricity for both Residential and Commercial Customers. We stand to be corrected
if that is not so, but the Media need to ask one specific question to the
directors of the Grand Bahama Power Company / Emera, What is the fixed
electricity rate excluding surcharges being proposed for both residential and
commercial customers for January 2016?
With the present state of the Grand Bahama economy that needs
transformation, this is not time to increase rates, this season demands REVOLUTIONARY INITIATIVES and VISIONARY ACTION. The
Coalition of Concerned Citizens is calling for the reduction of the fixed
electricity rate by 25 %. Lowering the
Cost of Electricity on the island by 25 % will have the following immediate
economy impact;
1.
The Island will be
become more attractive to Foreign Investors
2.
Economic
Stimulation for the Island
3.
New Small &
Medium Size Businesses would open
4.
New Industries
& Manufacturers
5.
Existing Businesses
would be able to Re-invest and Expand
6.
Reduce the cost of
operations for Hotels and increase Tourists related businesses
7.
Increase Major Real
Estate development particularly the second home market
8.
New Jobs
9.
Cost of Living
would decrease
10.
The Quality of Life
would improve for Citizens
It is very important to mention that we have yet to see the Global
reduction in Oil Prices reflected in the Power Company’s Fuel Surcharges. Our findings reveal that Grand Bahama Power
Company is paying more for Bunker C than BEC and both purchase from the same
company. Please see comparisons below:
CRUDE
OIL PRICES
GASOLINE PRICES
GBPC
FUEL SURCHARGE
(
Price per barrel)
(Bonded price per gallon)
(Cents per kilowatt hour)
JULY 2014 -
$ 110.00 July 2014 – $
4.44 July 2014 – $14.41
OCT. 21, 2015 - $ 45.80 OCT. 21, 2015 – $ 2.57 OCT. 2015 – $12.69
Decrease by 58 %
Decreased 42 %
Decreased
by 13 %
The CCC has had two very good meetings with the
regulatory committee of the Grand Bahama Port Authority. It is our belief that
the GBPA is earnestly seeking to lower the cost of electricity on this Island. In
light of the state of Grand Bahama economy, we are very confident that the
Regulatory Committee will not approve any increase in electricity rates for
January 2016.
To get the community of Grand Bahama involved in this
regulatory process the CCC will be holding a town meeting on November 3, 2015
at 7 pm at the Grand Bahama Taxi Union. We invite businesses and citizens to
come out and in a united voice say ‘NO to any further increase in electricity
rates’. For more information call 352-6931, 646-9494 or email:
cccbahamas@yahoo.com
or visit our facebook page
