A scathing critique by the Home Affairs Minister leveled at BELCO and the Regulatory Authority for approving a 13.9% rate hike, calling it a severe blow to hardworking Bermudians bearing the brunt of high living costs.
And the Opposition One Bermuda Alliance calling the rate hike a “punch in the gut’ for Bermudians, is also taking aim at the regulators.
BELCO explained the cost of doing business globally has increased, particularly over the last 2 years and they must continue to invest in the grid and other infrastructure to provide a safe and reliable electricity supply.
BELCO said it is acutely aware that high electricity costs are a burdensome expense for many families, but it remains committed to meeting energy demands.
Jasmine Patterson reports.
