BELCO President On Energy, Policy, Costs, More
“Following last night’s public town hall on the National Electricity Sector Policy [NESP], Bermuda Electric Light Company Limited [BELCO] wishes to add its voice to the conversation on Bermuda’s energy future,” BELCO President Wayne Caines said.
Mr Caines said: “Everyone in Bermuda wants affordable, reliable and sustainable electricity. Achieving this goal will require the entire community working together, BELCO, the Bermuda Regulatory Authority, the government, private businesses and Bermuda residents.
“It will require evidence-based decisions and equitable regulation.
“BELCO welcomes the public consultation process on the National Electricity Sector Policy [NESP] currently underway and I encourage Bermudians to participate and submit feedback before the May 21 deadline.
“Affordability matters, but it cannot be achieved by shifting costs onto those least able to bear them. Every sector must carry its fair share, including solar PV generators. We cannot end up in a situation where those who can least afford electricity are subsidising those who can. All generators, including private solar PV companies, must be regulated to control costs and ensure the protection of the grid and BELCO customers. A level playing field is not optional, it is essential. BELCO is not against renewables, but all generators must operate on equal footing, under the same regulatory framework.
“Bermuda must remain a stable and attractive place to invest capital. Regulatory certainty and a fair market structure are essential to attracting the investment that a successful energy transition will require. BELCO has demonstrated that commitment, having made significant investment in infrastructure at our plant on Serpentine Road and across our grid. We made a responsible, forward-looking business decision to install dual-fuel engines at the North Power Station. This investment was critical to replace aging infrastructure and ensure reliability of supply.
“No matter how much renewable energy infrastructure is built and added to the grid in the coming years, BELCO will continue to provide reliable base load electricity. We believe the path to lower long-term costs requires rigorous, independent analysis of all fuel alternatives, including liquefied natural gas [LNG]. Any investment in fuel infrastructure must deliver real savings over the long term and meaningfully reduce our impact on the local community and environment.
“Bermudians deserve a policy framework that is honest about costs, equitable in its application, and grounded in evidence rather than assumption. NESP 2026 can be that framework, but only if the process that follows is rigorous and inclusive of all voices.
“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.
“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 Thursday, 21 May 2026.”
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My man Wayne! The undisputed Best Beard in Bermuda Contest winner.
What sort of milk to you think Wayne puts in his tea?
Hang on Wayne, if you want to turn this into the haves and have nots, how about that Algonquin – your owners made $99.7m in just the first 3 months of 2026.
Who are really on the take here?
“All generators, including private solar PV companies, must be regulated to control costs and ensure the protection of the grid and BELCO customers. A level playing field is not optional, it is essential. BELCO is not against renewables, but all generators must operate on equal footing, under the same regulatory framework.”
Translation = BELCO is only interested in renewables so long as they are the primary benefactor and the customer has no say in the matter.
Caines is a wolf in sheep’s clothing, doing a very poor attempt to pull the wool over everyone’s eyes to try to convince you that BELCO is anything other than a smog-spewing dinosaur of an energy company that clings to inefficiency like a life raft because it fattens their bottom line.
“Bermudians deserve a policy framework that is honest about costs, equitable in its application, and grounded in evidence rather than assumption.”
Yes, we do. Sadly, that has not been our experience over most of the past 25 years.
More talk and zero action. Not surprised. Time to get rid of Belco and actually do something about electricity.
“Time to get rid of Belco and actually do something about electricity.”
Ok. The PLP Government can pass a law requiring BELCO to stop producing electricity. Then what? How will anything requiring electricity be powered? How will your favourite restaurant be powered? How will you favourite supermarket be powered?
Wayne, time for you to go. You’re taking down Belco, just like you almost buried Digicel.
This is just a call for protectionism of Belco’s dominance in the market. They want to be a profit making entity but don’t want to compete in the market.
“They want to be a profit making entity but don’t want to compete in the market.”
Most businesses want the same.
Some businesses welcome competition because it keeps them lean but yes, I take the point.
The point about taking profit is more about the fact that they take that profit overseas to their biggest shareholders and it is lost to the Bermuda economy forever but also want to crush small Bermudian companies trying to compete in the solar sector.
I know who I’d be protecting.,..
What competition? Who is planning to start their own power company? Will environmentalists put up the capital for funding a green energy company?
Belco is taking itself down brutha.