Hi Trueblue

Sorry I did get one D in BJC maths at da governments schooling

But you ain needs to be smart or get da mats right to see dey only have tief the $650 millions den turn da lights off again and come for more monies

So let me do some rough calculations

120,000 but only 50,000 pay there bills

Da loan is $650,000,000, divide dat by 50,000 ppl.

You get $13,000 for each paying customer have to pay off da bond

Say each paying customer pay $30 per month , den dey needs to make 433 payments

Divide 433 by 12 months means it will take 36 years to pay off da bonds dem.

I ain’t even calculate interest at 7%, consultant fees, mismanagement, changes the PLP will make when Dey take over and try fix da mess but only make it worse.

Dis bond just ain’t ga get pay, but Bahamians ga catch hell.

Most of the crown land is low lying and flood proned. UBP took all the high land over a century ago. So when Dorian II hits this land will be 30 feet underwater like Dorian I.

WTH...another housing project full of color fly by night contractors, accountants and authorities. The more things change the more they stay the same.

D'Agular heavily critized the Atlantis maids for bringing attention to their low pay.

But when his out west controlled BEC created an ESPN global black out for millions of ppl around the world to see as Battle for Atlantis went dark and ppl changed channels his mouth is shut.

D'Agular what is worse for the bahamas, dorian, maids stuggling for a living wage with VAT at 12% or BEC?

Naughtydread. Thanks for making this point. Sporadic, collective, peaceful, legal and non violent resistance which was practiced by Gandhi and Martin Luther King maybe help to focus our Lords and Master (yes we are slaves to BEC) to change course and not burden 20,000 BEC consumers with $650 million of debt ($32,500 per customer, for those who are not politically connected and don't have to pay for electricity).

Resistance would involve all Bahamian's including Atlantis for one month out of the year not paying the $30 bond fee in protest. It is not illegal to pay part of a bill, at least not yet, so the government would not be able to victimize all Bahamians or Bahamian corporations or Lyford Cay foreigners. We are all suffering under they tyranny of BEC.

Add up the cost of your generator, lost appliances, massive bills, oil and gas and you will see a subconscious collusion with the unintended impact of putting us all back 50 years.

So when dey charge da bond fee da man in Kemp Road electric bill ga double from $30 to $60. And da man in Lyford Cay light bill ga increase from $10,000 a month to $10,030 a month.

Light for government and high level guys will still be zero because the government guarantee and paying the bond off.

The $650 million BEC bond offering will unfortunately not work to improve collections, lower power cost, reduce corruption or accelerate the shift to renewables.

Just like Resolve Bahamas recapitalized Bank of the Bahamas to now loose even more money. BEC will now be recapitalized to purchase last centuries carbon based generation plants and deploy them across a substandard above ground electric grid which will be destroyed by Dorian II. Let’s not forget the massive amounts of consultants fees.

Please don’t overlook the incestious nature of energy procurement in the Bahamas. The regulator URCA is the government, BEC is owned by the government, BEC’s biggest receivables is the government and one tightly controlled and connected group controls all oil imports.

Foreign investors will demand a government guarantee of the bond payments because government can’t shut itself for none payment of electric bills. Once the fix is in the government will stop paying its electric bill ... again.

When tief from tief god laugh.

Great news! The Bank of the Bahamas has been fully recapitalized and BEC will be fully recapitalized.

Time to buy hundreds of millions in new equipment for BEC and lend hundreds of millions from the Bank of the Bahamas.

The international bond issue is a nonsense. Only an idiot would buy BEC bonds secured by BEC receivable when they have a very poor record on collections.

The foriegn investors will require a government guarantee. Once the guarantee is in place BEC will be let off the hook collecting its recievable the bulk of which is owed by the government to BEC.

So the government is (1) the regulator - URCA (2) the owner of BEC and (3) the largest customer and the (4) largest receivable on the books.

What is BEC gonna do? Turn off the lights in all the schools when the Ministry of Education doesn't pay their BEC bill in 30 days?

By that time Minnis and the FNM will be long gone leaving the PLP to blame the FNM for the mess and then create an even bigger mess.

Absolutely correct John.

The government is the (1) regulator (2) BEC's largest customer (3) the majority of the account receivable are owed by the government (4) the government is shifting BEC debt onto foreign investors.

When BEC, like Bank of the Bahamas, can't service the debt because the poor ppl stop paying the bills, the government never started to pay it BEC bill, the government will just simply create Resolve II and bail out the bond holders like they bailed out Bank of the Bahamas

By that time the PLP will be back in power and will blame the FNM. As they blame each other Dorian II may strike Nassau....who will bail out Nassau?