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  HOME | Caribbean

Bahamas Hires U.S. Firm to Manage Electric Company

SAN JUAN – The Bahamian government and PowerSecure International, Inc. signed on Monday a Management Services Agreement that entrusts the U.S.-based company with the administration of Bahamas Power and Light for the next five years.

“Today is an exciting new day in The Bahamas as we progress into a formal relationship with PowerSecure to implement a robust business plan that will substantially reduce customer electricity costs and will provide increased reliability,” BPL Chairman Nathaniel Beneby said in a statement.

Electricity costs in Bahamas are approximately 44 cents per kilowatt/hour, which PowerSecure says it expects to reduce to roughly 26 cents per kWh.

The MSA, according to PowerSecure, “includes a comprehensive, financial-grade business plan which outlines significant cost-reduction and reliability targets along with renewable energy and customer service initiatives for New Providence and other islands.”

Bahamas is among a number of Caribbean nations who suffer from high electricity costs because they lack domestic supplies of fossil fuels or the capacity to exploit alternative energy sources.

 

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