BL&P seeks rate change

The Barbados Light & Power Company (BL&P) Limited has submitted an application to the Fair Trading Commission (FTC) seeking a review of the fuel clause adjustment (FCA), which it says could save customers over $3.7 million.

A notice this week from the FTC said the utility company was seeking to recover costs associated with the commissioning of a 5MW energy storage in St Lucy, and it was seeking to do so by way of the FCA.

“The Barbados Light & Power Company Limited has submitted an application to the Fair Trading Commission for approval to recover the costs associated with the commissioning of a 5MW energy storage device via the fuel clause adjustment. This application will result in a review of the fuel clause adjustment decision dated October 11, 2013 and is made in accordance with Section 16 of the Utility Regulation Act, Cap 282 of the Laws of Barbados,” the FTC said.

The fuel clause adjustment, which is monitored by the FTC, is a mechanism designed to recover the cost of fuel used in the generation of electricity. It adjusts the price that customers pay for each kilowatt-hour of electricity as the cost of fuel used to generate electricity rises and falls.

The regulatory body said those wishing to intervene in the proceedings have until 4 p.m. on Monday, September 11, 2017 by way of a letter.

The fuel clause adjustment has been averaging just over 22 cents per kWh.

In a statement to Barbados TODAY Monday afternoon the utility company said the application to the FTC was another demonstration of the company’s commitment to facilitate greater penetration of renewables and reduce the cost of electricity to customers.

“The installation of the battery storage will result in no additional cost to customers and furthermore, is estimated to save customers over $3.7 million in fuel charges,” the BL&P said.

“The company remains committed to its plan to invest in ways to make electricity generation cleaner and intends to work with all stakeholders to be a part of the energy solution for Barbadians,” it added.

BL&P commissioned study released in early 2015 had suggested that a 5MW or 12MW energy storage could have significant economic benefits, reducing thermal fleet production cost by about $5 million or $11 million per year.

5 Responses to BL&P seeks rate change

  1. Antheia Springer-Williams
    Antheia Springer-Williams September 6, 2017 at 6:57 am

    Everyone else digging out your eyes…… Just join the Club BL&P!

    Reply
  2. Milli Watt September 6, 2017 at 9:34 am

    this company want to adjust rates UP and save customers 3.4 million……….hmmmmmmmmmmmmm wanted to mek sport at me wid hedging (gambling) and now this. really admire how these Canadians go after profit – with a VENGEANCE

    Reply
  3. tedd September 6, 2017 at 12:09 pm

    if they are trying to get money to pay for this facility how then will the customers save. if we pay less there is less income for them to find money to finance the project.

    Reply
  4. Belfast September 6, 2017 at 10:00 pm

    And what will happen when the old clapped out engines at Spring Garden and the Airport need replacing ,and the Canadians with their pockets full of money, decide not to invest in new engine. Will the people of Barbados be hit with a BL&P levy?

    Reply

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