Comments on: Ascendant Group 2016 Earnings: $13.9 Million

By: Kathy

Kathy — Fri, 12 May 2017 06:33:54 +0000

WE SHOULD NOT GIVE IN TO LNG (liquid natural gas)! We are going to have to pay for this transition and it is not the right transition for Bermuda. We will be STUCK with this new generation system for many years to come. Many countries are now leaving LNG for renewable energy. If we are going to have to pay for any upgrades, it has to be to adopt large scale renewable energy projects.

OBA please legislate now that all future generation upgrades must be 100% RENEWABLE! We have goals to meet and BELCO doesn’t give a S&*!

By: Kathy

Kathy — Fri, 12 May 2017 06:28:57 +0000

Yes, it is all about their return. Where is their savings for this upgrade that is expected to happen? We don’t see ANY funds being put aside for future changes. Why is that? WE ARE EXPECTED TO PAY FOR IT ALL! They just run the show for their shareholders. NO OTHER BUSINESS COULD GET AWAY WITH OPERATING LIKE THAT!

By: Cranberry

Cranberry — Thu, 11 May 2017 11:02:25 +0000

Yup – now save it, so you can afford new generation equipment in the future without have to increase prices to your ‘captive’ customers…

By: Dangel

Dangel — Thu, 11 May 2017 01:20:33 +0000

Business is trumps. The people do not seem to matter at all!!

I remember ” The tariff increase was granted to permit BELCO to earn a more reasonable return on its investments and enable the Utility to maintain the current system.”

My question then was what about the many people who are just trying to survive daily with shelter, food and clothing.

By: Family Man

Family Man — Wed, 10 May 2017 20:38:29 +0000

Belco got a hefty rate increase in 2016.

” The tariff increase was granted to permit BELCO to earn a more reasonable return on its investments and enable the Utility to maintain the current system.”

So what did they spend the money on? They purchased 822,817 shares from their existing shareholders and increased their dividends by 50%. Talk about giving Bermuda the middle finger.