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FTC rules against BL&P’s rate review

November 20, 2023

The Fair Trading Commission has ruled on the Barbados Light and Power Company Limited’s motion to review its February 15 decision with a number of denials and dismissals.

In a news conference today at its Green Hill offices, the Hearing Chairman Dr. Donley Carrington said the FTC did not act in excess of or without jurisdiction by directing the applicant to take certain decisions concerning the self-insurance fund.

The FTC has also denied the capital structure of equity 65%, debt 35%, a rate of return of 8.79%, the review and variation of the February decision is dismissed and the rate of 7.47% is maintained.

With these matters out of the way, the final decision on a rate hike could come before Christmas for consumers because the compliance filing by BL&P is now in the FTC’s hands.

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