Barbados Light and Power Company (BLPC) customers will not have to pay as much for electricity as the utility provider wanted.However, they will have to wait until sometime next month to find out exactly how much of an increase they will be forced to pay.The Fair Trading Commission (FTC) announced Wednesday that the rate of return that the BLPC used to calculate a new requested base rate had been thrown out by the regulatory agency and the power company will have to make some adjustments.“The rate of return on the rate base of 8.79 per cent, is denied. The commission approves a rate of return of 7.47 per cent to be used in the computation of the revenue requirement,” chairman of the FTC rate hearing panel Dr Donley Carrington said at a press conference held at the commission’s Green Hill, St Michael headquarters.He explained that having refused to approve a series of requests on which the company relied to determine the 8.79 per cent rate of return, the FTC ordered BLPC to return
Barbadians will have to wait longer to find out whether they will have to dig deeper in their pockets to pay for electricity.
The Fair Trading Commission (FTC) said on Thursday that its plan to announce a decision this month on the Barbados Light and Power Company’s (BLPC) request for an increase in basic electricity rates, is no longer possible.
“We have
As the Fair Trading Commission (FTC) deliberates over the Barbados Light & Power Company’s (BLPC) request for a hike in electricity rates, one of the intervenors has served notice that he will take the fight as far as the Caribbean Court of Justice (CCJ) to protect the interests of consumers.Chairman of the Coalition of Concerned Cooperatives and president of the Barbados Sustainable Energy Cooperative Society Limited, Retired Lieutenant Colonel Trevor Browne said on Friday that his fight for a satisfactory outcome relates to two new motions he filed with the FTC after the conclusion of the 15-day public hearing in October this year but within the deadline given for written submissions.The two motions, copies of which have been obtained by Barbados TODAY, call on the commission to have an oral hearing to set a clear dividend policy for the electric company in its pending ruling and to address the BLPC’s Self Insurance Fund (SIF) from which the trustees withdrew some $100 millio
A Black mom in Maryland will receive a $275,000 settlement for how her then five-year-old child was detained after walking away from school two years ago.