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.
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.