Minister of Transport and Energy, the Hon. Jobeth Coleby-Davis announced the government’s plans for the transformation of the energy sector on Monday. On Wednesday she made contribution to the 2024-2025 budget debate in the House of Assembly where she addressed the cost of energy.

Coleby-Davis told Parliamentarians, “beginning on the 1st of July, 2024 a new equity rate adjustment will make bills more affordable for most Bahamian families immediately. The equity rate adjustment or ERA creates a more equitable balance to the current tower structure and encourages energy conservation. The primary beneficiaries are residential consumers as the first 200 units base rate will drop to zero.”

The minister provided examples of how the new initiative will work. She said, “the average residential bill is 655 kwh so they will save about 460 over a year with error. Example two, if your residential bill is more modest at 200 kwh then you will save 323 a year with error.”

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