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HOUSE COMMUNICATIONS BY HON. FRED MITCHELL MP DEBATE ON THE ELECTRICITY (AMENDMENT) ACT 2014

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House Intervention by Fred Mitchell MP

Electricity (amendment) Act

21 January 2014

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Mr. Speaker,

I support this legislation.

I want to say that one of the statements I remember about energy is that at a Chamber of Commerce dinner where my friend Henry Dean was named Developing Entrepreneur of the Year; former Treasury Secretary of the United States Nicholas Brady who is a resident of Lyford Cay spoke. He said that you cannot develop your economy without a reliable source of electricity. I think Bahamians know instinctively that that is correct.

You just have to ask those who cuss every time the power goes off in this country. The problem is I do not remember a time when the power was not going off in this country: it didn’t matter which government, from the UBP time to now. The history is power failure after power failure.

So this government is now in, trying to do the heavy lifting to make a reliable power supply a reality for this country. We have that brand new hotel coming up which places enormous power demands on us and we have to find a way to meet the power needs. We cannot have another summer of our people sweating in discontent.

Finally, it appears that the US is engaged in this, in seeking a solution.

In connection with their input, the U S Vice President Joe Biden is convening an energy summit in Washington DC on 26th January. Our Prime Minister in his capacity as Chair of Caricom and in his own right will be making a statement at the conference.

We welcome the engagement of the United States in this matter. In particular, we hope that this will lead to changes in policies by that country to enable cheaper access to energy supplies.

We know for example or have been told that when investors come to The Bahamas and in particular to Grand Bahama, they love the place. Everything is fine, until they hear the cost of power.

When you compare the cost of power at 40 cents per kilowatt hour produced in The Bahamas, Canada produces at 8 cents per KwH, China at 11 cents per KwH, the USA at 12 cents per KwH and Trinidad at 7 cents per KwH.

The US, UK and other partners have criticized the Caricom region for embracing Petro Caribe, a marketing programme by Venezuela to sell petroleum products to Caricom with extended credit. Recently Venezuela sold their credit note to a private sector interest. Countries are watching this carefully but it has been beneficial to all countries in the region that were facing balance of payment problems and had public sector distribution of oil.

We welcome the ability now to join the grid by supplying your own power.

Power will be one of the major determinants about the success or failure of Caricom economies. It is most important that we resolve this problem.

Renewable energy sources are the clear answer. At the moment some relief with the process of fossil fuels falling but we do not know how long this will last. So in the long term we must resolve the issue of the cost of power.

· At the Summit, the Organization of the Petroleum Exporting Countries (OPEC) will announce a team dedicated to energy projects in the Caribbean. The team will focus on identifying projects, identifying funding and marrying projects with investors. The goal is to unlock private sector capital to enhance energy security and taking on new debt is not the best way to deal with the issue.

· At the Summit, the World Bank is to announce a donor coordination mechanism; i.e. working with different countries to coordinate how energy requirements are approached in the region and to establish a new funding facility that can be drawn on and governments can contribute to.

· Create a sense of high level engagement from the US with the region on energy security, particularly regarding the notion that CARICOM should not be subject to the vagaries of oil markets, governments and oil suppliers, and towards an outcome of cheaper, safer, more reliable energy resources for the region based on market mechanisms;

· Listen to Caribbean leaders to understand better the problems that confront energy pricing and supply in the region;

· Consider necessary market and regulatory reforms in the region needed to spur investment in energy sectors;

· The US currently limits export of energy resources. CARICOM should make a loud call to the US that you should be looking to us as a market and if there will be a opening for US exports of energy resources then we should be the top of the list as a potential market;

· The Caribbean to propose ideas to make its own energy supply less hydro carbon dependent;

· US proposals cannot compete with Petro Caribe because that is not a market based system, which they assume is not sustainable, but intend to discuss what the US is offering as an alternative, namely:

· Organization of the Petroleum Exporting Countries (OPEC) guarantees for projects;

· Assisting consortium of islands to pool resources to show a demand pulse to oil companies;

· Carving out /prioritizing friends as markets using the leverage the US Government has in divvying out licenses.

For CARICOM, energy security is about creating a more competitive, dynamic and prosperous economy. Lower energy costs will unleash more disposable income for our citizens and make our economies more globally competitive.
· CARICOM would like to be seen as equal partners for investment – the methodology for cooperation could be: “What is in it for you? What is in it for me? Can we do it together?”

· The greater Caribbean should be seen as a viable market for US export and investment and as the third border of the United States, not only friends but family, we expect to be prioritized for any new access provided to US energy resources. We see today’s Summit as a measure of our mutual resolve to strengthen our common future. We look to the US Government for assistance with facilitating bridges between US resources and expertise and Caribbean potential.

· CARICOM is looking to develop its own resiliency, self-sufficiency and export potential given the energy resources, mostly untapped, in our own territories – therefore a priority for assistance should be to help us to help ourselves.

Access to multilateral finance/ aid and private capital is important to developing our own potential to be energy secure. This will require countries like the United States, who have significant influence over multilateral institutions and international financial institutions, to commit to reconceptualising indicators of development needs which are currently based on crude metrics and which lock out many Caribbean countries from access to concessional financing and aid. Either IFI’s will have to reform or risk becoming irrelevant and uncompetitive in relation to emerging international financing options.

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Invest TCI Strengthens Regional Investment Connections at Caribbean Investment Forum 2026 in Barbados

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Providenciales, Turks and Caicos Islands – Monday, 19th October 2026: Invest Turks and Caicos Agency (Invest TCI) strengthened its regional presence at the Caribbean Investment Forum (CIF) 2026, held October 5 – 7, 2026, in Bridgetown, Barbados, participating as both a sponsor of the Forum and representative of the Turks and Caicos Islands’ investment landscape.

The Caribbean Investment Forum brought together regional and international investors, government representatives, business leaders, entrepreneurs, investment promotion agencies, and development partners to explore investment opportunities, strengthen partnerships, and advance sustainable economic development throughout the Caribbean.

The Agency’s sponsorship of CIF 2026 formed part of its continued commitment to strengthening the visibility of the Turks and Caicos Islands within the regional investment community and building relationships with investors, development partners, investment promotion agencies, and businesses across the Caribbean.

The opening of the Forum was attended by the Honourable Mia Amor Mottley, Prime Minister of Barbados, who emphasised the importance of scaling regional investment, strengthening economic cooperation, and transforming innovative ideas into commercially viable opportunities. Invest TCI was represented by Ms. Alexa Cooper, Domestic Investment Officer, and Mr. Hezron Henry, Marketing Support Officer. Throughout the Forum, the delegation engaged with stakeholders and promoted the Turks and Caicos Islands as a competitive investment destination while exploring opportunities for greater regional collaboration and knowledge exchange.

Speaking on her experience at the Forum, Ms. Alexa Cooper, Chief Domestic Investment Officer, said:

“CIF 2026 provided another valuable opportunity to engage with donor organisations, investors and Investment Promotion Agencies (IPAs) from across the Caribbean. A highlight for me was the introduction of an exclusive masterclass for fund managers, investors and support organisations, which offered practical insights into unlocking capital, strengthening investment ecosystems and supporting investment-ready businesses. I was equally impressed with the quality of projects pitched, which showcased the region’s innovation and investment potential. It was encouraging to see projects presented with a clearer understanding of investor expectations, reinforcing the importance of not simply developing projects, but ensuring they are well-structured, investment-ready and positioned to attract the right investment partners.”

Accompanying the Invest TCI delegation was Mr. Sean Penn, Chief Executive Officer of Sky Poultry Farm Ltd., the first commercial egg and poultry production facility in the Turks and Caicos Islands. Mr. Penn’s participation provided an opportunity to showcase the development of domestic enterprise within the Turks and Caicos Islands while highlighting the potential of agriculture and food production as part of the country’s broader economic diversification efforts.

Through his participation at CIF 2026, Mr. Penn had the opportunity to engage with regional stakeholders, gain exposure to developments within the Caribbean agricultural sector, and explore potential partnerships and opportunities related to agricultural investment, innovation, and enterprise development.

For Invest TCI, the combination of sponsorship, investment promotion and local business representation provided a multifaceted platform to advance the Agency’s mandate. It allowed Invest TCI not only to promote the Turks and Caicos Islands to prospective investors but also to facilitate greater exposure for a local enterprise operating within an emerging sector of the economy. The Forum also provided opportunities for the Invest TCI delegation to exchange knowledge with regional counterparts, strengthen institutional relationships, and gain insight into investment trends and opportunities affecting Caribbean economies.

As the Caribbean Investment Forum continues to expand its regional reach, Santo Domingo, Dominican Republic, was announced as the destination for the next edition of the Forum, providing another opportunity to bring together investors, policymakers, investment promotion agencies and businesses from across the Caribbean and beyond.

Invest TCI looks forward to the continued growth of the Caribbean Investment Forum and the opportunities it creates to deepen regional partnerships, promote investment, and connect Caribbean businesses with new markets and sources of capital. The Agency remains committed to attracting sustainable investment, supporting domestic enterprise, encouraging economic diversification, and developing partnerships that contribute to the long-term economic development of the Turks and Caicos Islands.

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Bahamas News

Energy Minister Delivers Electrifying Keynote Opening Address at CAREC 2026  

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NASSAU, The Bahamas – The Bahamas’ Minister of Energy, Utilities and Aviation, The Honourable JoBeth Coleby-Davis, delivered an electrifying address during the opening ceremony of the 2026 CARILEC Resilient/Renewable Energy Community (CAREC) Conference and Exhibition, being held October 18–22, 2026, at the British Colonial Hotel in Nassau, The Bahamas.

Under the theme “Empowering Progress: Strategic Policy and Planning for the Energy Transition,” the event draws more than 200 industry leaders, policymakers, regulators, and energy professionals committed to advancing practical strategies for sustainable and reliable Caribbean power systems through renewable energy and emerging technologies.

During her address, titled “The New Energy Era: Transforming Policy into Progress,” Minister Coleby-Davis reminded attendees that The Bahamas’ national motto, “Forward, Upward, Onward, Together,” aptly describes what the region’s energy transition demands.

“Empowering Progress speaks directly to our national motto. Not waiting for progress, but creating the conditions that allow progress to happen. Meaningful progress, however, does not occur by accident. It requires vision, sound policy, strategic planning, strong institutions, and the determination to turn decisions into results,” said Minister Coleby-Davis.

Participants acknowledged that small island developing states share similar pressures, compounded by geographical challenges, small electricity markets, ageing infrastructure, geopolitical influences, and the growing threat of severe weather.

Tasked with ushering in a new energy era across the islands while addressing the challenges posed by The Bahamas’ unique archipelagic composition, Minister Coleby-Davis said, “Every island needs a different answer, but the same logic. As an archipelagic nation, we must provide electricity across many islands, each with its own demand and infrastructure needs. Our strategy, therefore, must be national in direction, but responsive to individual communities.”

Restating her Ministry’s three core messages—that energy is an economic and security priority, technology must be viewed as a tool to support strong institutional leadership, and natural gas should be considered a bridge, not a destination—Minister Coleby-Davis reiterated that “progress must now be reflected in functioning infrastructure, effective institutions, and better electricity services: from policy commitments to coordinated implementation, and from fragmented investment decisions to long-term planning.”

Organised by CARILEC and co-hosted by Bahamas Power and Light (BPL) and Grand Bahama Power Company (GBPC), the annual Conference and Exhibition brings together the Caribbean energy community to advance practical solutions to the region’s most pressing energy challenges and accelerate progress towards more resilient, reliable, and sustainable power systems.

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Bahamas News

Monument Supports Hands for Hunger With Paradise Plates Debut  

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NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ leading wine and spirits distributor, proudly supported Paradise Plates, Hands for Hunger annual fundraiser with a flavorful offering of its newest product, Monument Beverage Co.

Monument, which launched this July and is available across six major islands, made its Paradise Plates debut. Guests enjoyed three bold flavors: Peach Passion, Ginger-Lime and Melon Fizz as they socialized throughout the evening.

Monument brand ambassadors engaged guests with knowledge on the ready-to-drink beverage’s unique taste and look. Many attendees were delighted to learn that Monument is 100% Bahamian-made and owned and enjoyed seeing the various national landmarks on the packaging.

The booth was adorned with vibrant brand colors, striped arches, tropical florals and a photo worthy backdrop featuring Monument cans filled with florals cascading down the wall.

At the end of the event, the entire Monument inventory had finished, making Monument’s Paradise Plates debut a huge success.

For more details on Caribbean Wines & Spirits, new products and specials, visit www.cwsbahamas.com today.

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