Comments on: Ascendant Group Earnings Rise To $14.5 Million

By: Kathy

Kathy — Thu, 05 May 2016 18:51:59 +0000

Once again, BELCO, how much of that $17.4 MILLION net consolidated earnings are you going to use to invest back into your aging infrastructure? Better yet, how much of that $17.4 MILLION net consolidated earnings are you going to use to buy updated RENEWABLE infrastructure and move into the 21st century?

Oh, I forgot, you will be able to ask us to pay for that aging infrastructure later, when things start failing and you put the screws to us that we won’t have electricity. No, I take that back, you will put pressure on the Government to ask us to pay for it! Never mind, you are doing that now with LNG!

How much of those earnings each year over the past 111 years since you have been a HIGHLY protected monopoly in Bermuda have you distributed to your shareholders vs. how much of those earnings over the past 111 years have you kept to invest in new infrastructure?

I am completely disillusioned!

By: Bermyman

Bermyman — Thu, 05 May 2016 12:09:46 +0000

Slippery slope, the more you increase to build your shiny new gas plant the more people will take matters into their own hands and deploy renewables and other efficiency measures. The cycle will continue to impact BELCO sales negatively over time, yet BELCO will continue to raise rates in order to maintain their gas driven monopoly. While they cry poverty, they also fail to mention that they paid handsome dividends in the 80′s, 90′s and early 2000′s but failed to put provisions in place to modernize their energy production methods and equipment. This continued with band aid approaches symptomatic of many Bermudian monopolies and oligopolies that currently are at tipping points, grappling with their aging and outdated infrastructures. Unfortunately their mistakes and willingness to make their shareholders fat and happy means that we the Bermudian people will pay. It is very evident that the Government’s new piece of Energy legislation has been designed to protect BELCO as the only ‘retailer’ of energy. All stand alone renewables will have to be sold to the grid for BELCO to sell that power onto the consumer. This will supposedly be regulated but how? How can you regulate something that is owned by one single company and is the single most important lifeline we have to our homes and businesses.

By: Gertrude

Gertrude — Thu, 05 May 2016 01:50:12 +0000

A bright person like you would be bored silly.

By: Family Man

Family Man — Wed, 04 May 2016 21:04:01 +0000

I need to find a non-competitive industry in which to work. Something like a union, a bank or a utility. Somewhere where I can arbitrarily raise my fees and doubly my income.