The Fair Trading Commission (FTC) announced on Saturday September 17th its decision to grant the utility company, Barbados Light and Power (BL&P) an interim rate hike.
This means that domestic customers could see a rate increase between 8.5 percent and 10.5 percent. The increase is not retroactive but is effective September 16th and will be in effect until a decision is made on the substantive application for a rate increase.
The hearing is set for Wednesday September 20th and FTC’s Chief Executive Officer (CEO) Dr Marsha Atherley -Ikechi told Barbadians at the briefing, that the decision grant an interim increase was separate from the upcoming hearing.
Joint intervenors attorney Tricia Watson and chartered accountant David Simpson have filed a motion recently requesting that the FTC order BL&P to amend its rate application based on its March 25th ruling on the utility company’s deprecation application.
