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RA Invite Comment On Proposed BELCO Sale

RA Invite Comment On Proposed BELCO Sale

The Regulatory Authority [RA] is inviting the public and other interested parties to comment on the proposed purchase of BELCO by Algonquin Power. A spokesperson said, “The Regulatory Authority is inviting the public and other interested parties to comment on the proposed ‘Change of Control’, a proposed transaction concerning the acquisition of... Read more of this article

BELCO’s Main Office To Close To Walk-Ins

BELCO’s Main Office To Close To Walk-Ins

BELCO has provided several options for customers to view and pay their bills without visiting the main office which will be closed to walk-ins as of Friday, April 3rd at 3.30pm. A spokesperson said, “BELCO has provided several options for customers to view and pay their bills without visiting the main office which will be closed to walk-ins as of... Read more of this article

Covid-19: BELCO Advisory On Bill Payments

Covid-19: BELCO Advisory On Bill Payments

BELCO announced measures that have been implemented to assist customers in response to the coronavirus COVID-19 pandemic, noting that they are now accepting MasterCard, Visa and American Express and all credit card fees will be waived, and that they will not carry out any disconnects due to non-payment of bills through April 30, 2020. A spokesperson... Read more of this article

North Power Station Officially Commissioned

North Power Station Officially Commissioned

At midnight on Tuesday, March 31st, a new era of power generation began in Bermuda, as after many years of planning and construction, the new North Power Station officially came online at midnight yesterday to generate Bermuda’s base load electricity requirement. Bermuda Electric Light Company Limited [BELCO] President Dennis Pimentel said: “The... Read more of this article

Ascendant Group Announces 2019 Results

Ascendant Group Announces 2019 Results

In a filing with the Bermuda Stock Exchange [BSX], Ascendant Group – the parent company of BELCO — announced their 2019 results, with core earnings of $15.3 million, or $1.60/share, compared to $14.5 million, or $1.49/share, in 2018 and net earnings of $12.4 million, or $1.27/share, compared to $5.4 million, or $0.54/share, in 2018. The... Read more of this article

BELCO: Crisis Team & Suspend Disconnects

BELCO: Crisis Team & Suspend Disconnects

BELCO said they have activated their crisis management team in response to the Covid-19 pandemic, and are “committed to maintaining electricity supply” and will be “suspending all disconnects for residential and small commercial customers for the next 30 days and will review the situation after such time.” A spokesperson said,... Read more of this article

Coordinate Road Trenching, Remediation Works

Coordinate Road Trenching, Remediation Works

“If you are a road user in this country then the announcement of a plan to coordinate road trenching and remediation works with all the entities involved will be welcome news,” Minister of Public Works Lt/Col David Burch said in the House of Assembly today [Feb 14]. The Minister said, “For many years, various service providers at one... Read more of this article

Timeline For Ascendant Sale Decision Extended

Timeline For Ascendant Sale Decision Extended

The Minister of Home Affairs has extended the statutory timeline for a final decision on the application for Algonquin to purchase the Ascendant Group to October 4th, 2020. A spokesperson said, “On 3 June 2019 Ascendant Group Limited signed an agreement with Algonquin Power & Utilities Corp. for Algonquin to purchase the Company for $36 per... Read more of this article

‘Coordinated Approach To Road Trenching’

‘Coordinated Approach To Road Trenching’

“A coordinated approach to road trenching going forward is in effect,” Minister of Public Works Lt/Col David Burch said, noting that as BELCO plans to conduct major upgrades to its network it provides the opportunity to coordinate their efforts with others, and ensure that all the necessary entities are prepared and ready to lay any and... Read more of this article

Festival Of Lights Raises $21,373 For WindReach

Festival Of Lights Raises $21,373 For WindReach

The Festival of Lights – which was powered by BELCO and supported by the Department of Parks — raised $21,373 for WindReach this holiday season. Thousands of people visited the Botanical Gardens to experience the popular light displays, which ran every Saturday between November 30th and December 21st. During the Festival of Lights, volunteers... Read more of this article

“PLP Welcomes Reduction In Electricity Bills”

“PLP Welcomes Reduction In Electricity Bills”

The PLP said they welcomed the “reduction in electricity bills” as “beginning in January 2020, 95% of Bermudian families will see a reduction in their energy bills.” “This holiday season, we are committed to focusing on the sure and steady progress we’re making for Bermudian policies,” said Acting Leader Walter... Read more of this article

BELCO ‘Welcome The New Rate Reduction’

BELCO ‘Welcome The New Rate Reduction’

[Updated] “Customers will see a modest reduction of overall rates following approval by the Bermuda Regulatory Authority,” BELCO said today. “The new rates were developed with extensive effort by BELCO and the RA to implement the retail tariff methodology issued by the RA in 2018. These new rates will be applied to all meter readings... Read more of this article

Minister Walter Roban On Electricity Tariff Cuts

Minister Walter Roban On Electricity Tariff Cuts

“We are pleased that the Regulatory Authority has today assisted in the delivery of one aspect of our agenda; driving down the cost of electricity via the slashing of Electricity Retail Tariffs,” Minister of Home Affairs Walter Roban said. The Minister’s comments follow after the Regulatory Authority of Bermuda announced that “effective... Read more of this article