We have heard it time and time again: “Tourism is our business, let’s play our part”. And, for the most part, Bajans have done a good job of ensuring that the visitors who come to this island in droves are well taken care of.We have all embraced this national slogan that was plastered all across the media many years ago, but none has owned it quite like the industry officials. Long shifts, double shifts, split shifts, every shift possibly created in the sector has been embraced by the workers and, by extension, their households.This is not to say that management is not dedicated, but there is a remarkable sense of commitment and purpose that comes with being on the ground working in the hospitality industry.We never think of them when we speak of “essential workers” but they do fall in that category. And while some may argue that there is no “life or death” urgency in what they do, we beg to differ. Essentially, the caretaking of thousands of tourists who leave the comfor
The COVID-19 virus has struck at the electricity rate hearing on Monday forcing all of the intervenors, the lead attorney for Barbados Light and Power Company (BLPC) Ramon Alleyne, KC, and some senior members of staff to go online for the session.They joined the proceedings via Zoom after the Fair Trading Commission (FTC), which is hearing the BLPC’s application for a basic rate increase, agreed to conduct the case using a hybrid format. The decision to go online came after several intervenors tested positive for the virus.Before taking evidence today, Dr Donley Carrington, who is chairing the hearing, issued a statement informing all parties that the commission had received information this morning which indicated that “certain persons had requested to be able to join this hearing in a virtual format”.“The commission,” Dr Carrington added, “has decided that today we will be having this meeting in a hybrid format so that persons who would feel more comfortable joining onlin
The Barbados Light and Power Company’s Director of Finance has suggested that it is likely to go back to the regulators for a new rate hike if it is unable to get the 12.5 per cent increase being sought now.Ricaido Jennings put this position to the Fair Trading Commission’s rate hearing on day eight of the proceedings which are considering a request from his company for an increase in electricity rates.Jennings was testifying on Friday when he defended the possibility of seeking another hike. He said even if the current application is successful, the BLPC will still be challenged with how it is going to earn its returns.He said the company was under-earning with a rate of return on investment of eight per cent - excluding the impact of a tax in 2018 - and in light of the 10 per cent that was approved by the FTC previously. He identified a number of factors that would have contributed to the BLPC not achieving the 10 per cent to justify the request for an increase.“If you exclude
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
For the second straight day director of finance for the Barbados Light and Power company, Ricaido Jennings was crossed examined by both intervenors and members of the Fair Trading Commission, as the hearing for the utility company’s rate increase application went into its eighth day. Jennings faced several questions related to its calculations surrounding the company’s required rate of returns. A number of questions revolved around the BL&P’s desired debt-to-equity ratio …