Minister of Home Affairs, in an exclusive conversation with TNN, moved to dispel the notion that the Progressive Labour Party (PLP) is in ‘bed’ with both Belco and the Regulatory Authority (RA) and may have privately colluded and/or approved recent increases to the Fuel Adjustment Rate (FAR) and Feed-In-Tariff (FIR).
The prying away of former Belco senior vice-president Denton Williams, a perceived PLP supporter, to head the RA in 2019 Williams has since left RA to take on a similar role at BAC combined with the appointment of PLP MP Wayne Caines as president of the ultility giant has served to galvanise spreading theory that the parties may be operating in tandem, for the sake of profit making, at the expense of consumers.
“That is absolutely false and patently incorrect,” Minister Roban told Trevor Lindsay in response to the promoted scenario. “When it comes to Mr Caines, who I respect as the president of BELCO of Liberty who operates and communicate with myself certainly with my Ministry under the highest level of professionalism. And there is a clear line between his role as a representative of the constituency he represents and his role as president.
“We have always operated from that level and I will assure you he will agree that we operate in the highest level of professionalism. “There is no such linkage and it’s unfair to him and to all the other professionals, who exist in this space and the people in the government and the RA to suggest that.”
The minister also took the occasion to reiterate the PLP’s position as that of being in firm support of the people of Bermuda and their ability to reside and survive under reasonable economic conditions elative to living expenses.
“Government stands with the people with the concerns that they express the adjustment to the fuel adjustment rate and the and the feed-in-tariff,” said Mr Roban. “We’re concerned about the impact this has on our people, the economy and the environment and the overall message it sends about Bermuda’s suitability as a place to do business with reasonable costs.
“The increase in the cost of living has not been reasonable for our people. Facing high mortgages, facing, in some cases, stable wages not moving with the rate of inflation and the overall global situation, people are hurting. And for people who, in my view, have been very tolerant in a country where electricity costs have been historically higher than other places, but also linked to the fact that we tend to use more electricity as consumers, so we have to manage ourselves better. To be confronted with a considerable increase on the fuel adjustment rate was shocking for many Bermudians.
“Bermudians have been showing their displeasure at that and I wanted to make it clear that we in the government are also not satisfied with the answers we have received from the RA about how they came to their decision and we want answers … and we’re going to get those answers.
“This process will be transparent, as I have made the questions that I presented to the RA public and the public will hear what those answers are. They must be held accountable as a public body. They operate as an independent body, if the government having no will in their decisions as it relates particular license operators under the regulatory act , but I can ask questions and get answers and make sure that everything has been done with the highest level of integrity and above the law in the interest of the people. That is why I have taken the position at the government has taken the position that it has.”
Meanwhile, a planned protest has been organised for tomorrow (Monday) by a concerned group of residents, with Belco and RA the prime targets of concern.
Minster Roban voiced support for the people’s right to protest, but cautioned against illegal activity within its context.
“I would say that I, as well as any other representative and leader of the country, respect people’s constitutional right to protest and exercise their views on matters,” he said.
“People have a right to do that, but I would caution and not condone any suggestions of violence, suggestions of intimidation against anyone who is associated with BELCO or with the Regulatory Authority.
“That will not be tolerated, but people’s right to express their views freely in a democratic society is respected.”
While the Minister did not point to the current revenue declines being experienced by Belco’s Canadian based parent Company Algonquin Power and Utilities and its desire to offload parts of the company, as an incentive for Belco wanting to raise rates, the daily recently highlighted the struggling state of the Toronto listed conglomerate, which was reported as having, “lost $1 billion in market capitalisation over the past month and has lost almost two thirds of its value since peaking in 2022”, all while being saddled with $8 billion worth of debt.
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