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Costly spares - Barbados Today

The Barbados Light and Power Company (BLPC) spent some $19 million over a two-year period to replace components of a steam turbine generating plant that it had planned to retire following the last electricity rate hike in 2010.Instead, the BLPC has extended the life of the plant until 2023, but repurposed one of its two power-generating units to house spare parts.“I believe it is S2.is not actively generating [electricity] right now. S1 is. But the unit S2 is used as spares for S1,”Director of Finance at the company Ricaido Jennings testified on Thursday before the Fair Trading Commission (FTC) on day 7 of the hearing that’s reviewing a request for a rate increase.The information was made public as intervenor and accountant David Simpson - who has teamed up with attorney-at-law Tricia Watson - cross-examined Jennings.“What would have happened and the accounting treatment that would have happened there, is that these investments would have been included in the cost of the plant ....

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FTC panel adjourns to consider motion

The Fair Trading Commision (FTC) panel presiding over the Barbados Light and Power Company’s rate hearing adjourned to consider a re-submission of the motion from the Office of the Public Counsel for a stay in the hearings. In the opening session on the second day of the hearings, intervenors as well as the legal team for the applicant argued the motion, with the intervenors unanimously agreeing that the Public Counsel … ....

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FTC dismisses motion to adjourn

The Fair Trading Commission dismissed an attempt to adjourn the electricity rate hearing, with the proceedings scheduled to resume on Thursday. When the hearing started on Wednesday at the Accra Beach Hotel, the Barbados Associtation of Retired Persons (BARP), represented by the Office of Public Counsel, argued that it needed more time to prepare its intervention against the Barbados Light & Power Company Limited’s (BL&PC) rate application. This was because … ....

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