The Barbados Association of Retired Persons (BARP) is concerned that the hike in electricity rates proposed by the Barbados Light & Power Company, (BL&P) will be burdensome and unbearable for its members, and plans to intervene on their behalf.
BL&P has applied for a substantial increase in its rates and tariffs that would see the domestic rates per kwh increase between 33.3 per cent and 42.9 per cent, and the cost for new service (below 200 amps) jumping from $50 to as much as $130.
BARP is hoping to assemble a high-powered team of individuals of various skills to protest the steep increase.
“Since all rates are subject to Value Added Tax (VAT), such a steep increase will be even more severe for our members. We must make our voice heard, not only for our members but for all ratepayers,” said BARP president Marilyn Rice-Bowen.
She confirmed that the proposed intervention will be discussed at BARP’s annual general meeting which will be held next Monday via Zoom.
In its 1,300-page application to the Fair Trading Commission (FTC), the BL&P said that following adjustments for rate-making purposes, its profits fell from $53.4 million in 2019 to $28.7 million in 2020.
The BL&P had also stated that its application for a rate hike was only its second in 40 years, and acknowledged the impact of the COVID-19 pandemic, the recent ashfall and Hurricane Elsa, had on ratepayers.
