FREEPORT, Grand Bahama -- As part of the Regulatory Framework established with the Grand Bahama Port Authority (GBPA) in 2012, the Grand Bahama Power Company (GBPC) has provided a submission for GBPA's review.
The Framework, the first of its kind in the Bahamas, set out electricity rates for 2013 to 2015 which resulted in no increase to customers' all-in costs for the period.
It is clear to us that the GBPA has been building their regulatory knowledge over the past several years through the use of industry experts, resulting in requirements for a greater level of detailed information to ensure decisions are made in the best interests of all electricity customers.
The material submitted included:

An Integrated Resource Plan which assesses how much generation the island will need into the future. This ensures that the improved reliability Grand Bahamians have experienced continues, and that growth can be accommodated.
A Cost of Service Study which assesses how much it actually costs to produce electricity for each customer class. This is the first time this type of analysis has been done.
A Depreciation Study which analyzes the remaining useful lives of the company's plant and equipment. This is a key issue for utilities who are inherently asset-heavy businesses.
Full financial details on operating, maintenance and general costs.

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