We decided to share this article with readers of BAHAMAS CHRONICLE, which has a huge following among the Bahamian diaspora across the United States, Canada and the United Kingdom as well as in The Bahamas and the wider Caribbean. The Nassau Guardian published this article on Tuesday, May 5, 2026.
The government has taken a “major step forward” in its bid to assume control of Grand Bahama Power Company, which will result in an average 37 percent reduction in energy bills for Grand Bahama consumers, Prime Minister Philip Davis announced today.
“The Government of The Bahamas, through a special purpose vehicle called the Grand Bahama Electricity Company, is acquiring all outstanding shares of Grand Bahama Power Company” he said during a ceremonial signing between the government and GBPC.
“The transaction is funded by a loan from Standard Chartered and Scotiabank, guaranteed by the Government of The Bahamas.
“This decision was made with a clear purpose: to bring down the cost of electricity for the people of Grand Bahama and place this island inside our national energy strategy.
“Grand Bahama Power Company will adopt the BPL tariff schedule for services provided to customers in Grand Bahama nad you would have heard that that adoption could resultin savings of an average of 37 percent in your electricity costs.”
Davis said acquisition also protects the employment and benefits of all existing employees of Grand Bahama Power Company, adding that the Bahamian management team will remain in place.