BELCO Supports Electricity Sector Policy Update
BELCO said they “welcomed the Government of Bermuda’s update of Bermuda’s National Electricity Sector Policy [NESP] and supports the Government’s effort to provide clear, modern guidance for the sector.”
BELCO President Wayne Caines said: “The NESP emphasis on affordability, reliability, and sustainability reflects the practical realities of operating an isolated island power plant and grid and aligns with what matters most to customers. A measured, evidencebased approach to integrating new technologies will help protect grid stability and customer affordability.
“Getting this transition right requires meaningful partnership, and BELCO is committed to being a collaborative partner every step of the way. We strongly support a fulsome stakeholder engagement process that ensures all voices, including those of customers, businesses, and community organisations, are heard and reflected in the decisions that shape Bermuda’s energy future. Community education will also be essential, because an informed public is better equipped to participate in, and benefit from, the changes ahead.
“On cost management, we believe every sector must carry its fair share of the weight. Sustainable progress cannot rest on any single party, and the policy framework must ensure that costs and responsibilities are distributed equitably across all electricity users and generators. Importantly, that principle of equitable regulation should extend to all sources of electricity generation, including solar PV. A level playing field strengthens the integrity of the system and protects all ratepayers.
“We live on one island, and the environmental choices we make have real costs, whether we act or choose not to. BELCO is committed to responsible stewardship of Bermuda’s environment and recognises that the cost of sustainability must be acknowledged honestly and managed thoughtfully rather than deferred to future generations.
“For many years BELCO has made substantial investments in scholarships, apprenticeships, and internships, and welcomes the NESP focus on workforce development, inclusion, and public engagement. BELCO supports the policy’s commitment to right-sizing the energy transition, recognising Bermuda’s limited land, lack of interconnection, and exposure to volatile global fuel markets. Realistic targets and achievable timelines are essential to delivering real emissions reductions while managing costs and maintaining system reliability.
“NESP 2026 provides a balanced foundation for meaningful progress that works for Bermudians today and into the future, and our entire team at BELCO looks forward to working with the Government, stakeholders, and our customers to chart a path for a reliable, sustainable, and affordable energy future.
“Let me also thank the Energy Policy Steering Committee for their commitment to producing a comprehensive consultation document. I encourage the public to review the consultation documents and submit feedback at forum.gov.bm by the consultation deadline at 5:00 p.m. on Monday, 4 May 2026.”
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