Deputy Prime Minister Philip Brave Davis said yesterday the government expects to finalize the Bahamas Electricity Corporation (BEC) restructuring exercise by mid-February.
The deal was previously expected to wrap up at the end of January.
However, Davis, whose portfolio includes BEC, said he is satisfied with the progress made to date.
The bidding process, which will lead to the overhaul of the energy sector, is being managed by KPMG (Bahamas).
Davis said the five companies that remain in the running to become part of the overhaul made their final submissions to support their bids and pricing proposals yesterday.
"Once we would have had a look at the issues that were raised with them on their pricing tenders they will be evaluated during the course of next week," Davis told The Nassau Guardian.
"And the following week we intend to sit down face-to-face with each one of them and hopefully that will take three or four days."
Following those meetings, the prospective companies will be reviewed in Cabinet before a decision is made, Davis said.
KPMG announced in October that six bidders had advanced to the next stage of the BEC request for proposal, having been asked to submit pricing proposals.
While there has been no official disclosure, The Guardian understands the bidders at that stage included Malaysia-based Genting Group; state-owned China State Construction and Engineering Corporation; Cayman-based Inter Energy, U.S.-based PowerSecure, and Caribbean Power Partners.
BEC will be split into a transmission, distribution and customer billing entity and a semi-privatized power generation company.
The move is hoped to improve efficiency and reduce the cost of electricity.
While no Bahamian bidders are involved in the process, Davis said the shortlisted companies are interested in including Bahamians in an "equity and ownership" arrangement.

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