To achieve 100% Renewable Energy by 2030, Light & Power like many other investors will need to make significant capital investments.
In order to execute its capital investment plans, Light & Power, like other investors, will be required to borrow the funds needed to invest in costly, long-lived assets.

Without an increase in rates, Light & Power would be unable to fund plan investments to meet customer requirements; facilitate other players and new entrants in the electricity sector; and generally meet the BNEP objectives and other regulatory requirements.

Apart from a rate increase, another key enabler to allow Light & Power to continue borrowing with reasonable terms, is an extension of its existing franchise which is due to expire in 2028. The absence of a Licence extension creates increasing uncertainty around Light & Power’s long term investment plans and also impacts its ability to enter into Power Purchase Agreements (PPAs) with Independent Power Producers (IPPs).

Currently the state of Light & Power’s finances demonstrates that if the Company does not seek a rate adjustmet, it would:

1. Find it increasingly difficult to borrow money to fund its operations;

2. Be without the financial resources to continue to adequately maintain its plant equipment and continue to to invest in initiatives to meet customers’ needs;

3. Be unable to facilitate policy objectives and regulatory compliance obligations; and

4. Be unable to respond to financial, economic or environmental shocks

The Barbados Light & Power Company remains committed to its business of safely providing energy and energy services that are cost effective and reliable for our customers. Our Customers can Count on Us to invest in ways to make electricity generation cleaner and in getting that energy to market and creating energy solutions by linking assets, markets and energy partners.