The number of entities eligible to become a managing partner for the Bahamas Electricity Corporation (BEC) has been shaved to five, revealed Environment Minister Kenred Dorsett yesterday.
Minister Dorsett was giving remarks at the 23rd annual Bahamas Business Outlook held at the Melia resort.
Late last year, eight companies were shortlisted and invited to submit bids to the government’s proposal to be a managing partner for BEC.
Through the proposal, the cash-strapped corporation would be split into two entities to provide electricity services to residents.
“Just before the holidays, five bidders were invited to clarify and expand upon key elements of their bids and prepare final submissions by the end of January 2014,” Minister Dorsett said.
“Once the final submissions are received and evaluated our advisors will make further recommendations to the government and it is expected negotiations will commence in late February to early March 2014 with selected companies.”
Minister Dorsett said in the meantime the government has not changed its position on regulatory reforms for the energy sector.
This includes renewable energy, environmental mediation and labour relations.
“Our goal is to have a regulator that operates in an independent and transparent matter thus providing assurance to both consumers and private sector investors that the goals of this reform are being achieved,” Minister Dorsett said.
“It will also be the role of the regulator to hold private sector operators to high standards of performance and cost effectiveness on a continuing basis.”
Officials have said that they want The Bahamas to be at least 30 per cent dependent on renewable energy by the year 2030.
“The critical first step is to get our energy infrastructure in order to be ready to receive renewable energy without destabilising the electric grids. It is also necessary to ensure that the independent and transparent regulatory regime referred to previously is in place to facilitate the introduction of independent power reducers to provide renewable energy,” Minister Dorsett said.
“However, we expect to advance an energy self-generation programme consistent with current laws this year with a goal of meeting up to 10 per cent of the country’s power in the near term as a down payment – so to speak – on our longer term goal of 30 per cent renewable energy.”
The minister also stressed the importance of achieving this goal.
“The use of conservation and renewable energy sources is incredibly important. Energy conservation not only benefits our environment by increasing our carbon footprint but it is also known to benefit our pocketbooks by reducing our energy consumption,” Minister Dorsett said.
The minister suggested that companies start the process of converting to renewable energy by using the most electricity saving bulbs, air conditions and other appliances.
He also suggested that companies look into ways to use solar energy as an electricity source.
