The following statement was issued by the Barbados Light & Power Company:
The Barbados Light & Power Company acknowledges the FTC’s decision to grant interim rates at a cap of 50 per cent of its application.
We will carefully review the FTC’s decision to ensure that our implementation is fully compliant.
With the regulator’s approval of a partial interim rate, Light & Power reiterates its commitment to electricity customers that, in the event the FTC sets a rate which is lower than that sought by the Company, following the substantive Rate Hearing, we will refund all customers the difference between the interim rate and the final rate.
Light & Power reemphasises its commitment to the regulatory process and the advancement of national energy policy goals. (PR)