Prime Minister and Minister of Finance, the Hon. Philip Davis wrapped up the 2024-2025 budget debate in the House Of Assembly on Monday.
During his presentation, Mr. Davis refuted opposition claims that the government intends to privatize Bahamas Power and Light (BPL). He said, “I can assure you that as soon as the ink is dry on those agreements the details will be shared with the Bahamian people. I just wanted to ensure that I directly address the misinformation that the side opposite has spread about our energy reform plans.”
He continued, “we’ve partnered with a wide range of companies involved with solar, LNG and large scale infrastructure projects to make this project financially feasible and expand our capacity to make changes at a national scale. Partnerships are powering most of our bigger initiatives and they will be critical to our energy reform.”
The government recently announced a 25 year partnership with Island Grid to upgrade the transmission and distribution network in New Providence.
“As a result of these partnerships we do not have to sell any assets, privatize BPL, break the company up, terminate any employees or violate any union agreements. We leverage these partnerships to make BPL stronger. Most importantly, Bahamian families struggling with high costs of living don’t have to wait years for relief while they struggle to keep the lights on each month,” Mr. Davis said.
The Prime Minister said starting next month Bahamians will see consistent savings on their monthly bills over the next twenty four months.
