Thursday, July 16, 2020

BPL Executives First Hedge

For the first time in the company’s history, Bahamas Power and Light Company Ltd. (BPL) has executed a fuel hedge transaction, which has the effect of setting the fuel charge for BPL customers at about 10.5 cents per kilowatt hour (c/kWh) for the next 18 months, subject to review after 12 months.

Celebrating the moment as a landmark, BPL CEO Whitney Heastie pointed out that since fuel is a pass-through cost, there is no savings to the company: all savings go to the customers. He said, “Compared to recent history when rates were 19 cents and more in many months, the projected savings for the average customer will be about 30 percent through January 2022.”  Read more >>