Minister Lightbourne On Energy Market
“The Ministry of Home Affairs is closely monitoring the impact of the ongoing conflict in the Middle East on global oil markets and the potential consequences for Bermuda’s fuel and energy costs,” Minister of Home Affairs Alexa Lightbourne said.
A Government spokesperson said, “Today the Minister of Home Affairs, the Hon. Alexa Lightbourne, JP, MP, shared the following regarding the recent market volatility and fluctuation in prices relating to energy, fuel and oil.”
Minister Lightbourne said, “The Ministry of Home Affairs is closely monitoring the impact of the ongoing conflict in the Middle East on global oil markets and the potential consequences for Bermuda’s fuel and energy costs. Bermuda relies entirely on imported fuel, and as a small island jurisdiction, we are not immune to global price shocks. We understand the concern this creates for families and businesses already navigating a high cost of living.
“The regulation of Bermuda’s energy and fuel sectors falls under the Regulatory Authority of Bermuda, which has independent statutory responsibility for overseeing electricity tariffs, fuel pricing, and consumer protection.
“The Ministry has received a detailed briefing from the Regulatory Authority on the current market situation, including the mechanisms in place to moderate the pace at which global price movements flow through to local consumers. Retail fuel prices are reviewed monthly, while electricity costs are adjusted quarterly through the Fuel Adjustment Rate; both of which provide points at which the impact of global movements is assessed before reaching consumers.
“This Government has already taken decisive action to reduce the burden of energy costs on Bermudian households through recent budget measures. When Bermuda last faced a global fuel price spike, this Government acted swiftly to cap the price of fuel to protect consumers, and we will not hesitate to consider that option again if the situation warrants it. The Ministry will continue to work closely with the Regulatory Authority and industry stakeholders to safeguard affordability and keep the public informed, as the situation develops.”
Translation. The PLP Government is “monitoring the impact of the ongoing conflict in the Middle East on global oil markets”, the potential consequences of which few outside the industry fully appreciate, in relation to “potential consequences for Bermuda’s fuel and energy costs” over which the PLP Government has no control (“regulation of Bermuda’s energy and fuel sectors falls under the Regulatory Authority of Bermuda, which has independent statutory responsibility for overseeing electricity tariffs, fuel pricing, and consumer protection”).
So is it the near west to China? Mmm lol
Wait for it…. We need an offshore wind farm, a battery farm, more solar panels on buildings, and a floating solar farm.
The RA won’t respond to my emails anymore about the status of vendors expressing interest in the wind farm or any other questions. “Expression of Interest”
Does anyone know what is going on?
“The RA won’t respond to my emails anymore about the status of vendors expressing interest in the wind farm”
If there are no “vendors expressing interest in the wind farm” then there is nothing to respond to.
That in itself would be a response. “No vendors have expressed interest.”
But hey, consultants were paid about $1 million for “derisking” the project, which included suggesting it double in size to attract vendor interest.
More bs from this bs government. They do absolutely nothing for us and only work for themselves. Time to wake up bermuda and get these people out!
Yes Alexa lightbulb is on $192000 a year plus GP car and bonuses with 18 percent pay increase it doesn’t affect her at all
“The Ministry of Home Affairs is closely monitoring the impact of the ongoing conflict in the Middle East.”
Well of course they are. What else can they do but sit and watch? The market is going to do whatever the market is going to do. The Ministry can fluff up their feathers all they want to try to say something important but the consequences of this war is totally out of their hands.
We are here for the ride.