Hashtag: #OilAndEnergy
Irbisio Green Fund Launches With $100M Target
The Irbisio Green Energy Fund is officially launching, aiming “to provide an integrated approach to clean technology infrastructure investing.” A spokesperson said, “Irbisio Green Energy Fund is launching today to provide an integrated approach to clean technology infrastructure investing. With an initial target of $100 million to... Read more of this article
Column: Deciphering Your BELCO Bills
[Column written by Denise DeMoura] People all over Bermuda feel helpless about confusing BELCO bills. They trigger many emotions since we know that most of us can’t get our electricity anywhere else. Feeling that electricity rates are out of our control, and getting even more expensive, causes anxiety. We feel powerless against such a large corporation... Read more of this article
Greenrock Offshore Wind Feasibility Study
Greenrock announced the release of the fourth study in our offshore wind feasibility study series – a Wind Speed and Annual Energy Production Analysis. A spokesperson said, “This study was commissioned to understand more accurately how much electricity could be generated by an offshore wind farm in Bermuda. “Key points from the study... Read more of this article
Column: Understanding Belco Fuels
[Column written by Denise DeMoura] A few people have asked me to help them understand more about Belco. So I’m going to try: starting with fuels and the generators that turn them into electricity. It’s overwhelming just trying to understand the differences between the types of fuel that Belco could potentially use–and the many different names... Read more of this article
BCAC On Pollution, Higher Costs & More
Members of the Bermuda Clean Air Coalition [BCAC] expressed concerns about pollution, the increased costs of electricity and more. A spokesperson said, “The announcement of increased costs for electricity has sparked outrage in the community, but for members of the Bermuda Clean Air Coalition [BCAC] and residents of the area, there is concern... Read more of this article
Column: Ideas For Lowering BELCO Bills
[Column written by Denise DeMoura] I’d like to share a few of my easiest ways to save money on BELCO bills. After I moved in with my husband, Anson Nash, he was shocked when I lowered our two-person monthly household electricity bill to about $100. So with BELCO’s new Fuel Adjustment Rate [FAR], our monthly bill will increase about $20. But for... Read more of this article
Column: Pearman On BELCO FAR Increase
[Opinion column written by OBA Shadow Minister for Legal & Home Affairs Scott Pearman] In his speech made the day he became Opposition Leader, Jarion Richardson observed that “blame is not a solution”. Friday’s press conference by Deputy Premier Walter Roban on the impending increases in our electricity costs, was sadly short on meaningful... Read more of this article
Photos & Video: People Gather Outside BELCO
People gathered outside of BELCO on Serpentine Road in Pembroke this morning [Oct 9] to express their concern about the Fuel Adjustment Rate [FAR] increase which took effect this month. BELCO previously advised that beginning on October 1st, 2023 there will be an increase in the FAR. A spokesperson said, “With the approval of the Bermuda Regulatory... Read more of this article
BELCO On ‘Misconceptions’ About FAR Increase
Since announcing there would be an increase in the Fuel Adjustment Rate [FAR] “there have been several misconceptions and incorrect information circulating,” the BELCO President said, adding that “customers’ bills are not increasing by 48%, only a portion of the bill will increase, the base rate and other charges will remain the... Read more of this article
BELCO: Fuel Adjustment Rate To Increase
BELCO advised that beginning October 1st, 2023 there will be an increase in the Fuel Adjustment Rate [FAR]. A spokesperson said, “With the approval of the Bermuda Regulatory Authority, the FAR will increase from the existing rate of 16.513 cents per kilowatt-hour [kWh] to 24.517 cents per kWh. The FAR is comprised of 20.09 cents per kWh FAR and... Read more of this article
Ariel Re Relaunches Clean Energy Division
Global [re]insurer Ariel Re has relaunched its Clean Energy division as Ariel Green, “recognizing the increasingly crucial role of Technology Performance Insurance in accelerating innovation in solar, energy storage, hydrogen, and bioenergy to help curb climate change.” A spokesperson said, “Ariel Re has insured $30bn worth of assets... Read more of this article
RA To Host Town Halls On Offshore Wind Farms
The Regulatory Authority is reminding the public about two additional town hall events regarding the “potential of offshore wind farms for Bermuda.” A spokesperson said, “Following the success of its initial town hall meeting held in July 2023, regarding the potential of offshore wind farms for Bermuda, the Regulatory Authority is... Read more of this article
