Comments on: New Electricity Rates Directive Issued To BELCO

By: Gustav

Gustav — Thu, 26 May 2016 17:06:40 +0000

Since 2000, BELCO has invested a total of $390 million into electricity infrastructure to provide Bermuda with a highly reliable electric system.
if that is true , why that often Power breaks ?

By: John Does

John Does — Thu, 26 May 2016 12:05:35 +0000

Oil is now back to 50 dollars a barrel, the highest level in 7 months. Current trends keep the price increasing, so this fuel charge excuse is a scam because bills will be higher next year. In a couple of years when Belco has got the 8% increase, and oil prices have rocketed back to the old levels I bet Belco bills will be at a record high.

By: Common cent$

Common cent$ — Thu, 26 May 2016 11:13:15 +0000

Everyone complains about what the grocery stores make and Belco’s profits exceed all grocery retail companies combined in net gross and profit. That is quite the tax too. Another secret way of taxing the population

By: Navin Pooty Tang Johnson

Navin Pooty Tang Johnson — Thu, 26 May 2016 09:54:37 +0000

people leave Bermuda less electricity used…people come to Bermuda more electricity used….not that difficult to see that Belco wants more people on the island……so does anyone else with half a brain……

By: Clear View

Clear View — Thu, 26 May 2016 02:38:03 +0000

Shareholders get 7 cents per share. That’s hardly anything to need excited about or earn you deep pockets. You get higher dividends at pretty much every other company in Bermuda.

By: James

James — Wed, 25 May 2016 23:24:42 +0000

Can someone correct me if I’m wrong please. Wasn’t there a story in the news (maybe at the beginning of the year) which stated that Belco had an increase in monies earned? If that is correct, why exactly is there a need for another increase? Besides of course, the shareholders wanting to get deeper pockets. I’m so confused at this moment.
These monopoly companies are out of control. Yet they are supposed to be controlled…

By: Mixitup

Mixitup — Wed, 25 May 2016 23:02:54 +0000

So here I am reading about the ‘highly reliable’ electricity and my lights go off… Seriously Smiths Parish BELCO ! Sort it out plse.

By: What??

What?? — Wed, 25 May 2016 21:09:08 +0000

It will be up to Belco to set the amount of rate increase. The EC gave them permission to increase their return on capital to 7%. The rate increase need to accomplish that is still to be set.

By: 32n64w

32n64w — Wed, 25 May 2016 20:46:33 +0000

Ascendant better not pay any dividends for the next ten years if they’re being serious about the need for capital investment. They had decades to implement a long term sinking fund but kept paying out unsustainable dividends and increasing salaries and benefits – all at the expense of a captive consumer.

By: King Jammys

King Jammys — Wed, 25 May 2016 20:07:01 +0000

Successive BELCO CEOs have run to the EC to increase the rates to ensure a PROFIT for the shareholders. Who are the members of the EC? Are they shareholders of BELCO? Oil 52 week low was $27.82 today it is almost $50 FAR will increase.

By: Family Man

Family Man — Wed, 25 May 2016 19:14:09 +0000

That was a whole lot of waffle without saying what the increase will actually be.

Useless.