#TurksandCaicos, December 5, 2023 – FortisTCI is closely monitoring the impact of external shocks on market fuel prices, which continue to cause increases in the fuel factor rate and result in higher electricity bills. Higher global demand for fuel along with production cuts by leading oil producing countries have caused an increase in market prices, according to J.P. Morgan. While it is difficult to forecast far in advance precisely how prices will change, new projections from our fuel supplier indicate that fuel prices will continue to rise over the next several weeks. As a result, the fuel factor rate on November’s electricity bills increased by up to 10% across some service territories.

The fuel factor rate on customer electricity bills changes with average market fuel prices. Prior to this upswing in prices, fuel factor rates were more stable this year, falling nearly 40% across most service territories between February and September. This downward trend was contrasted by high energy demand during the summer as outside temperatures reached record-breaking levels.

The fuel factor rate on electricity bills is charged for every kilowatt hour of electricity used. When the fuel factor rate increases and a customer’s energy consumption increases, their electricity bill will be higher. Similarly, if both decrease, their electricity bill will be lower. If one increases but the other decreases, this will have a more balancing effect. If the customer consumes the same kilowatt hours of electricity, but their electricity bill has increased, the fuel factor rate has likely risen.

FortisTCI understands the challenges associated with higher electricity bills and is committed to diversifying how energy is produced and supporting customers during this time. The Company continues to advocate for suitably tailored, holistic utility sector regulatory reform, and continues to integrate alternative energy sources to the grid through roof-top solar systems and solar-powered microgrids with battery energy storage technology. These projects help to increase the amount of renewable energy on the grid, reduce the impact of global fuel price shocks on local energy costs over time, and lower carbon emissions.

Changes in the fuel factor rate can be tracked by comparing electricity bills. Notices regarding these changes are also issued monthly via email, social media, and other mainstream channels. Customers can also view their daily energy usage data via the Company’s free customer portal at www.myftcionline.com.

Dana Malcolm 

Staff Writer 

#TheBahamas, December 2, 2023 – The golden ribbon is cut and the Nassau-based Turks & Caicos diaspora office is officially unveiled. The opening ceremony, held at the new office, was attended by high-level delegates including Washington Misick, TCI Premier.

“I’m very proud and very privileged to be able to stand here and speak to you and I would especially like to thank someone who has become a friend in the person of the honorable Prime Minister of The Bahamas,” he said.

Bahamian support was critical in the venture, which sprung up as an answer to the TCIs desperate employment and immigration crisis. With hundreds of vacancies open across the public and private sector, and no one to fill them, the country needed more people but immigration rates were already far too high, posing a risk of disenfranchisement of islanders.

In order to fix both issues the government introduced a migration scheme allowing third-generation islanders with bloodline connections to claim citizenship. They quickly partnered with The Bahamas, one of the closest and the largest parts of its diaspora

Philip Davis, Prime Minister of The Bahamas was on hand while the Premier spoke and also brought remarks. The strong bond between the Turks and Caicos and the Bahamas was emphasized by Davis, as he spoke

“The Turks and Caicos’s islands were part of the Bahamas, they even had a representative in our parliament. We were one nation,” he said.

Bahamian parliament has been supportive of the diaspora plan, which could see TCI-Bahamians migrating away from the Bahamas and into the Turks and Caicos, since its inception in early 2023.

The colors of the Turks and Caicos islands were on proud display in the newly office. Attendees were allowed to tour the building during the Grand Opening on November 28th.

Bright white and modern meeting areas with turquoise accents and TCI logos will be the backdrop for immigration negotiations

Also present at the event, a strong proponent of the grafting in third generation plan, Immigration Minister Arlington Musgrove, and Deputy Governor Anya Williams. The officials have now concretized a journey they started together in February when the idea of a Diaspora office was announced.

The office is the first of its kind established by the Turks and Caicos Islands. It is located on the 2nd Floor of The Bahamas Financial Center, Shirley and Charlotte Streets.

#TheBahamas, December 2, 2023 – The Turks and Caicos Islands (TCI) Government earlier this week proudly inaugurated the Turks and Caicos Diaspora Office in Nassau, New Providence in the Commonwealth of The Bahamas, on Tuesday, November 28th, 2023, in the presence of the Prime Minister, Hon. Philip “Brave” Davis, Premier Hon. Charles Washington Misick and the Deputy Governor of TCI, Her Excellency Anya Williams.

Deputy Governor Her Excellency Anya Williams expressed her sincere appreciation to The Bahamas government for the outstanding collaboration between the two countries, particularly in national security.  She asserted, “The opening of this office here in The Bahamas will undoubtedly strengthen our ties with The Bahamas and create opportunities for even greater partnerships that will benefit the Turks and Caicos Islands.”

Premier Misick emphasized that The Bahamas and TCI have always had a strong bond, and the benefits of this relationship have been felt for many years.  He declared, “The establishment of a Diaspora of the Turks and Caicos Islands Office in The Bahamas is a crucial initiative that will restore links with the diaspora and open up a productive line of communication to gauge interest in employment opportunities, investment and contributing to the development of the Turks and Caicos Islands.” He further added: “Whether in national security operations, education (many of our students have studied here), health care, or even cultural enthusiasts who partake in junkanoo, we must continue to learn and lean on each other.

Minister of Immigration and Border Force Hon. Arlington Musgrove, who initially led the establishment of the office, stated: “This evening signifies a significant and timely accomplishment in the long history of our two nations.  Progressive relationship building is the term I use to describe the establishment of this office today.   Beyond a diaspora office, we hope to foster closer ties through business, investment, education, and training to benefit our two countries.  I am proud of my government taking this bold, progressive step and proud of the vision of our Premier, who has worked so assiduously to make this evening a reality.”

The Prime Minister of the Commonwealth of The Bahamas brought remarks on the evening and joined the other dignitaries for the ribbon cutting.

The office is a part of the government’s broader diaspora policy, which aims to aid in the creation of programs to capture, connect and harness contributions and connection from the TCI citizens residing outside of the TCI, increase the representation of the number of persons in the population with connection and roots in the TCI and lastly, to provide opportunity and incentive for eligible members of the diaspora to invest and have access to investment and philanthropic opportunities in the TCI.

The office is now open at The Bahamas Financial Centre.  Two Liaison Officers have been appointed; Canon Curtis Robinson is based in Freeport, Grand Bahama, and A. Vernay Mills is based in Nassau, New Providence.