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Barbadian Electricity Rates Set to Increase Following FTC Decision: Senator Warns of Financial Burden Ahead
Barbadian Senator Tricia Watson criticizes Fair Trading Commission's decision on BL&P's electricity rate increase, warning of cost burdens on households and benefits for elite players.
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Originally published by nationnews.com (opens in new tab)
A RUSHED DECISION which will result in electricity rate increases for Barbadians.
That is how intervenor Senator Tricia Watson has described the Fair Trading Commission’s (FTC) ruling on Barbados Light & Power Company Limited’s (BL& P) application for pre-approval of investments and cost recovery through the clean energy transition rider.
The attorney urged consumers not to believe “the FTC has saved us from a rate increase”.
“Most households will bear all of the cost burdens, which will be tremendous and will reap none of the benefits which will, frankly, make some elite players very wealthy at the expense of ordinary consumers,” she added.
