nhartnell@tribunemedia.net
Regulators will in early 2021 initiate studies to help the Government assess the feasibility of allowing a third operator to enter the Bahamian mobile communications market.
The Utilities Regulation and Competition Authority (URCA), in its just-released draft annual plan, said such research was required by the Electronic Communications Sector Policy to support the Government s decision on whether to permit further competition for the Bahamas Telecommunications Company (BTC) and Aliv. As set out in the draft electronic communications sector policy, the Government of The Bahamas will consider whether further liberalisation of the mobile telephone market should be undertaken in the form of a third mobile operator, URCA said.
nhartnell@tribunemedia.net
Energy regulators have renewed their pledge to ensure Bahamas Power & Light (BPL) does not make consumers pay for its failures through an opaque, inflated fuel charge on their bills.
The Utilities Regulation and Competition Authority (URCA), in its just-released 2021 draft annual plan, nevertheless praised the state-owned utility for introducing a fuel hedging initiative to stabilise the fuel charge and give businesses and households certainty over this component of their bills.
Suggesting that BPL had substantially adopted the recommendations it provided over its fuel hedging plans, URCA added that the advice it also provided over the upcoming $535m Rate Reduction Bond (RRB) placement should be revisited given that much has changed since the issue was first proposed due to COVID-19.
Prime Minister Dr Hubert Minnis.
NASSAU, BAHAMAS The Free National Movement (FNM) yesterday issued a statement heralding the Minnis administration for “leading through unparalleled challenges” brought on by Hurricane Dorian and the COVID-19 pandemic.
“Hurricane Dorian and the global pandemic set The Bahamas back after our FNM government was delivering record-setting achievements,” the party’s statement read.
“We were experiencing consistent economic growth for the first time in years; historic tourism numbers; long-needed resolutions at BPL (Bahamas Power and Light); and expanded access to education, placing more Bahamians on a path to success.
“Leadership can be defined by how one leads through trials. Under the direction of Prime Minister Dr Hubert Minnis, our government has led through back-to-back crises with hard work and determination.”
NASSAU, BAHAMAS The Bahamas is expected to benefit from crude oil price certainty for the next three and a half years following the execution of additional oil hedges with aid from the Inter-American Development Bank (IDB).
The bank said in a statement it has partnered with this nation on the execution of additional oil hedges to protect the government’s budget and better manage financial risks in uncertain times. The new oil hedges are linked to an IDB loan and will secure an affordable crude oil coverage solution during times of low prices for the government’s Bahamas Power and Light (BPL) electricity company. According to the IDB, the government will be able to implement better financial risk management over the next three and a half years, with a series of Asian Call Options purchased by the government from the bank, on approximately 7.2 million barrels of crude oil.
Osbourne: Bahamas has long way to go on women in positions of power Darnell Osborne.
Although The Bahamas was recently ranked 77 out of 162 countries on the United Nations Development Program’s (UNDP) Gender Inequality Index (GII), this country still “has a long way to go with respect to equity for women”, prominent businesswoman and accountant Darnell Osborne said.
Osborne, who is also the former chairperson of Bahamas Power and Light, called Bahamian society “very chauvinistic”, with the slightest differing of opinions from women turning into “lowball personal attacks… of the most sexist and misogynistic type”.
“At a former place of employment – although I was highly qualified – a board filled with old men thought it appropriate to cap my salary even though hiring a male with far less experience, hard skills, soft skills and capabilities and feeling justified in paying him more. Sometimes, their justifications seem to be the old fashioned and outdated th