The board of Bahamas Power and Light (BPL), and by extension the government of The Bahamas, appears to have collectively lost the ability to approach the dilemma that is the state power company in a reasoned manner. The recently tabled Electricity Rate Reduction Bond (RRB) Bill, coupled with statements from BPL Chairman Dr. Donovan Moxey and Deputy Prime Minister and Minister of Finance Peter Turnquest are astounding in their scope and offensive in their delivery. Through the RRB, BPL is asking for parliamentary approval to set up a facility to allow it to access more than $650 million in financing. Moxey said it is to restructure $320 million in legacy debt and use another $350 million in new spending for “modern power generation”.

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