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Privatization Of The Power Utility In The Bahamas. "Bec Should By Privatized. (External Sources Are Cited)

2522 words - 10 pages

Abrupt power outages that lasts for hours and hours, damaged electronic goods and appliances due to constant power surges and irate local folk that perhaps would not prefer to bear the blazing heat during the hot summer nights; these are all adverse effects imposed on innocent electricity consumers due to apparent deficiencies and inefficiencies at the publicly owned power utility in The Bahamas. Energy privatization has been part and parcel of a recent world trend that has placed greater reliance on market forces and less dependence on government in the allocation of resources. The Bahamas Electricity Corporation should be privatized because it will increase work efficiency, introduce much needed competition, and attract foreign investment capital to sustain the growing power requirements of the Bahamian population.Privatization, in its broadest sense, is the transfer of assets or services from the tax supported and politicized public sector to the entrepreneurial initiative and competitive markets of the private sector (Reed, 1). According to the Oxford English Dictionary, privatization is the transfer of a business or industry from public to private ownership. In either case privatization would be a universal solution with the many problems common to BEC.The evident inefficiencies in the administration of BEC have no doubt led to serious deficiencies in the public service that they provide. Almost on regular basis electricity consumers have to contend with intermittent electricity supplies that sometimes cause damage to very expensive electrical products. Indeed, there has to be some management problems associated with this equation. In a newspaper article aptly titled, "Seven power cuts within 24 hours...," Member of Parliament, Mr. Brent Symonette was reported expressing indignation over BEC's inefficiency during a meeting of the House of Assembly. He also stated that the electricity supply to his home on the Eastern Road was disconnected seven times in one day (McKenzie, 1). Certainly if an MP is raising this issue in the House, there must be a serious problem. Likewise, on another occasion in the House, Symonette mocked that the acronym for BEC was "Barely Enough Current" (National News).Moreover, at a cost upwards of $60 million dollars, the General Manager of BEC, Mr. Bradley Roberts commissioned two (2) generators namely No. 12 and No. 11, which is a slow speed generator. According to Roberts, "...No. 11 was installed behind schedule, and...there has been an ongoing problem with the performance of No. 11. It is not performing up to its capacity. It is operating below capacity, we (BEC) are not getting the bang for our dollar and the problems of No. 11 continue" ("BEC looks to 'Engine No. 12' to ease power woes," 1). Clearly Roberts was ill advised in his decision to purchase a brand new malfunctioning generator. Likewise, Roberts revealed that BEC's decision to purchase the No. 11 and No. 12 generators from the manufacture was not one...

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