BEC projects lower bills by summer’s end
Reduced electricity bills could come soon as a result of declining oil prices and increased efficiency of generators, according to Bahamas Electricity Corporation (BEC) officials.
The cost of electricity is expected to drop by the end of summer.
Oil prices on the international market began rising in March reaching a high of about $115, leading to fears of increased gas and electricity costs. However, oil prices recently dropped below the $100 mark.
According to BEC Chairman Michael Moss, while oil prices will affect electricity costs, ongoing work on the generators is expected to have a greater effect.
“The maintenance work is allowing us to increase the loading on our most deficient generators,” Moss said.
“The generators had lost output because of lack of maintenence. And the maintenance now is enabling the units to once again operate at full load capability and is likely to have much more of a positive impact driving down the fuel charge, than world prices at present.”
Minister of State for the Environment Phenton Neymour said the drop in oil prices will result in a decrease in BEC’s fuel charge.
New Providence experienced an inordinate amount of power outages in the past few weeks due to the failure of several of BEC’s larger generators.
There were also persistent outages on some Family Islands.
Minister for the Environment Dr. Earl Deveaux, who has responsibility for BEC, said recently that by today load shedding should end.
Moss said the generators that will produce 20 megawatts of additional power, which were rented by BEC, should be on New Providence this week.
Some areas of the island experienced power outages on Monday, even after three of BEC’s larger generators were returned back to service.
Moss said he would be able to provide a better assessment of how local electricity prices will be affected by the oil decrease later this week.