PM Philip Davis outlines comprehensive energy reforms to lower fuel costs

Prime Minister Philip Davis, today, unveiled his administration's ambitious plans for energy reform in the House of Assembly.

While contributing to the debate on the Electricity Bill (2024) and the Natural Gas Bill (2024), Prime Minister Davis emphasized the transformative potential of these legislative measures.

"As we begin debate on the Electricity Bill, 2024 and the Natural Gas Bill, 2024," stated Prime Minister Davis, "these two bills provide the legislative framework that will support our nation’s energy reforms – reforms that will light the way forward to a brighter future."

Central to the Prime Minister's vision is the commitment to lower electricity costs for Bahamian families and businesses, ensure a more reliable electricity supply, and drive the transition to cleaner energy sources. He highlighted the longstanding burden of high electricity costs on Bahamian households and businesses, underscoring the urgent need for comprehensive reform.

"For too long, the cost of electricity has afflicted Bahamian families and businesses," Davis said.

"Small businesses which might otherwise have succeeded have closed their doors because of the impact that the cost of electricity had on their bottom line."

Davis outlined the pressing need for a modernized energy infrastructure, emphasizing the importance of investing in a resilient grid capable of supporting a dynamic 21st-century economy. He underscored the government's commitment to harnessing renewable energy sources, particularly solar power, while also integrating liquified natural gas (LNG) into the energy mix.

"Our objectives are clear," Davis asserted. "We want to lower light bills for Bahamian families and businesses. We want to ensure that the electricity supply is more reliable, so that power outages are a thing of the past. And we want to drive our country’s transition to cleaner energy."

Davis also highlighted the significant financial challenges facing Bahamas Power and Light (BPL), including substantial debt and infrastructure deficiencies.

He reaffirmed the government's commitment to BPL workers, assuring that existing union agreements would be honored and objectives achieved without layoffs.

"We will accomplish our objectives without layoffs," Davis affirmed. "We are a government that takes our commitment to workers seriously."