Grand Bahama Port Authority promises transparency and stringent monitoring of Storm Recovery and Stabilization Charge

#Freeport, Bahamas – March 4, 2020 — The Grand Bahama Port Authority, Limited (GBPA) advises that there are existing mechanisms to ensure the transparency of the Grand Bahama Power Company’s (GBPC) recently-announced Storm Recovery and Stabilization (SRS) charge.

As the utilities Regulatory Authority in the City of Freeport, GBPA implemented a Regulatory Framework and Operating Protocol (“Framework”) in accordance with international best practices.  The Framework establishes prudent regulatory oversight of GBPC’s operations, Standards of Service and rate-setting protocols.

Karla McIntosh, General Counsel at Port Group Limited, stated, “The Framework has been in existence since 2013. Amongst other obligations, the Framework also requires GBPC to have its accounts audited by professional auditors, licensed to practice in the Bahamas, at the end of its financial year and submit the results of such audit to GBPA. This recently-implemented SRS charge will be no different.”

Ms. McIntosh added, “GBPA has also mandated that GBPC provide quarterly reports, which will be published on our website, advising the total funds collected.  This provides an objective and transparent process for the recovery of funds by GBPC, and it also establishes a regime of efficiency designed to secure greater levels of customer protection.”

The Framework, which can be accessed on the GBPA’s website at www.gbpa.com , also outlines a process for GBPA to address unresolved or escalated issues as it relates to the utility. Ms. Mcintosh advises that the Framework holds GBPC to a standard of service for key customer service deliverables and includes compensation for customers when these standards have not been met.  She advises that residents can submit an issue, which has gone through GBPC’s resolution process and remains unresolved, to PR@gbpa.com and be guaranteed a response within three business days.