FOR IMMEDIATE RELEASE
November 11, 2025

NASSAU, The Bahamas — Bahamas Power and Light Company Ltd. (BPL) Chief Operating Officer Mr. Anthony Christie shared a candid assessment of the company’s financial and operational outlook during his address at the Bahamas Institute of Chartered Accountants’ (BICA) Annual Accountants Week Seminar.

Speaking on the panel “Energy at a Crossroads: Cutting Costs, Driving Efficiency,” Mr. Christie explained that BPL’s performance is ultimately measured by how well it delivers during the country’s peak demand period — the summer months — when reliability, generation capacity, and customer satisfaction are put to the test.

Mr. Christie emphasized that fuel management and financial strategy are at the heart of BPL’s efforts to deliver stable, affordable energy. He explained that ensuring consistent fuel availability while mitigating price volatility remains a top priority and that fuel hedging is among the tools BPL is pursuing to achieve this stability.

“Ensuring that we have fuel available is key, but equally important is the cost of that fuel,” he said. “We’re actively exploring hedging options to secure more predictable pricing, and we’re also conducting a tariff review to make sure our rates are correctly structured and fairly applied to customer bills.”

The COO noted that funding remains one of BPL’s biggest challenges — and one of its greatest opportunities. He described ongoing efforts to secure financing through Independent Power Producers (IPPs), development partners such as the Inter-American Development Bank (IDB), and continued collaboration with the Ministry of Energy and Transport, which leads the government’s broader energy reform strategy.

“I am an engineer, and engineers always need money,” Christie said. “The CFO and I are constantly having that back-and-forth. But there’s funding available — the key is making sure the deals make sense. Whether it’s the IDB, which helped us rebuild Abaco after Hurricane Dorian, or partnerships with IPPs who will provide power generation, we’re being strategic about how we fund our future.”

Mr. Christie also highlighted that BPL’s operational scope — serving multiple islands across an archipelago — makes its business model inherently more complex than utilities operating on a single grid. Every initiative, he said, is designed to level the cost of electricity across the islands, ensuring fairness for all Bahamians despite regional differences in generation costs.

“The cost of generation in the Family Islands is higher than on New Providence, but customers pay the same rate,” he explained. “That’s why it’s so important for us, and for the government, to continue finding ways to lower and level the cost of energy nationwide.”

He added that the Ministry of Energy and Transport will soon host a National Energy Summit to continue the conversation around The Bahamas’ energy future — including renewable integration, LNG as a transitional fuel, and the financial models needed to sustain progress.

BPL’s participation in the BICA Accountants Week Seminar reaffirms its commitment to financial transparency, operational efficiency, and collaboration, as the company works to deliver reliable, affordable, and equitable power across The Bahamas.