Column: Pearman On Short-Termism & More
[Opinion column written by OBA MP Scott Pearman]
Have you noticed how our daily lives seem so much faster than they used to be?
We are living in what has been described as a “microwave society”, with increasing expectations of instant gratification. No longer the slowly boiling kettle to whistle the arrival of your cup of tea – now it’s the speedy ‘bing’ of the microwave. Gone are hand-written letters on the doorstep. Instead, it’s instant messages binging into your personal electronic device. And the message sender expects an equally instant response. It’s becoming now, now, now.
This increased demand for immediacy impacts on our politics too. And not in a good way. The time pressures of our ‘microwave society’ are causing many politicians to adopt short-term thinking – dispensing sound-bite solutions.
Even when this short-term thinking is unintended, it’s still dangerous. And it’s even worse when politicians cynically deploy easy answers to suggest something is being done – when, in fact, it’s not. Far too often the ‘sound-bite solution’ is deployed, yet nothing gets delivered – merely a hollow political promise for the short-term.
This is dangerously misguided. Not least because the problems our Island faces are often complicated. They are also interconnected. This means the actual solutions may be complex too.
Does The Minister Know Best?
Short-term thinking was on display during the last sitting of Parliament.
We all know Bermuda has some of the highest energy costs in the world. What is desperately needed is affordable and reliable electricity. The obvious question: how do we achieve those outcomes? The answer…
Permit me first to remind you of some history here. Back in August 2022, the OBA warned the Government needed to “get a grip” on the issues concerning Belco and the Regulator. In October 2023, the OBA’s Jarion Richardson offered to deploy bipartisan legislative solutions to empower the Regulator to delay announced electricity cost increases. The PLP declined the OBA’s offer, announcing Government would instead conduct “a much more critical review” of the Regulator’s methods in approving the increase. The next day, the PLP Government claimed victory, promising a reduction in our energy bills.
Did you notice any substantial reduction? Was that just another sound-bite solution?
The OBA’s proposal [sadly ignored by the PLP Government] recommended legal changes to ensure “consumer protection is being given sufficient weight in the regulator’s statutory determinations of whether or not to permit Belco’s requests to increase costs.”
A sensible idea you might think?
The OBA argued: “…Belco is more than simply a business — Belco is also a public utility. And on our island, Belco has an effective monopoly in the service it provides to the people. In such circumstances, it is legitimate to question what weight the people’s position is being given alongside the other factors the RA must legally consider when regulating Belco.”
That was three years ago. With the sizzling Summer of 2026 already well underway, what is the PLP’s latest idea? Has the PLP Government finally agreed that the independent Regulator should be the necessary legal powers? Sadly not…
Instead, the Home Affairs Minister has grabbed the wheel, deciding it’s time for her to drive. Rather than giving the independent Regulator the powers it needs, the Minister has granted herself extended powers, so that she can now both pause and amend the Integrated Resources Plan.
Where, you may ask, does this leave the independent Regulator? This same point was made in the House debate. I asked: why buy a dog and bark yourself? Separately, OBA Shadow Minister Dwayne Robinson pointed out that ministerial interference will likely create additional problems. If the Minister decides to usurp the functions of the independent Regulator, how will Belco react? And, more importantly, how will Belco’s reaction impact upon the cost and reliability of our electricity?
The Minister has decided electricity costs are her problem to solve. We should all be paying attention to what she does next.
Some Positive International Attention
Turning to some good news, this past week saw two excellent international trust conferences held at the Hamilton Princess. The first [ALM Global Elite] hosted the world’s top trust lawyers; the second [Transcontinental] was a gathering of the wider trust industry. Both underscored our Island’s global trust expertise.
When we speak of International Business, attention is often focused on [re]insurance. Last week’s duo of events reminds us Bermuda is also one of the world’s foremost trust jurisdictions, employing many talented Bermudians. Keynote speaker Ian Kawaley – formerly Bermuda’s Chief Justice now President of our Court of Appeal – heralded our Island as a ‘safe harbour’ for global trusts. Well said.
Congratulations and gratitude to all who helped showcase our Island last week – that’s the kind of electricity we like.
- Scott Pearman is the MP for Paget East [Constituency 22], the Deputy Leader of the Opposition, and Shadow Minister for Legal Affairs and the Municipalities. He can be reached via email on spearman@oba.bm
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