Meanwhile as the nation suffers under an oppressive energy regime... The BEC saga continues... Govt Shelves Bec Break-Up Informed sources close to the process told this newspaper that the Government’s BEC reform plan is now effectively a ‘mirror image’ of the Nassau Airport Development Company (NAD) model that was pioneered to facilitate Lynden Pindling International Airport’s (LPIA) revitalisation. BEC, and its existing generation and transmission/distribution assets, will be transferred to a new company, similar to how the Airport Authority’s assets were placed in NAD. While the Government retains ownership of the assets (at least for the present), it will sign a management agreement with the winning bidder for it to operate the monopoly power provider - the same sort of arrangement that Vantage has at NAD/LPIA. Tribune Business sources said that while the Government was now seeking a single private sector ‘manager’ for all of BEC’s operations, this would not prevent the winning bidder from ‘sub-contracting’ the management of certain parts to other companies. “It’s supposed to be going to Cabinet very soon, within the next couple of weeks,” one source said. “The Ministerial Committee is pushing hard to have all this in place, ready to go, by January. They’re working assiduously to get to a final position.” tribune242/news/2014/dec/02/govt-shelves-bec-break-up/?news
Posted on: Wed, 03 Dec 2014 03:04:05 +0000