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?

DWW, also I know of an incident where a house is a complete write off but the insurance company will not make any payout, even partial, because some of the structure still “stands”. The engineer argued that the residual structure is unsound.

Meanwhile the owner and her family is suffering further trauma and anxiety at the hands of the insurance company two full months after the hurricane. Without a job and without a house they were looking to the insurance money to restart their lives.

Meanwhile the regular is nowhere to be scene.

Very enlightening Well Muddo Take Sick!

I always felt it would take a Dorian II type event to collapse our inbred financial system. But without adequate reinsurance bank losses which will appear in about 6 months maybe higher due to insurance company failures.

RBC’s pull out from Fidelity, CIBC intention to pull out from First Caribbean etc removes the deep pocket Canadian backers. You would have to be blind not to see that rising sea level and stronger hurricanes caused by global warming make Bahamian real estate worthless by 2050.

So what will happen to da new Portsbdem, Atlantis and Baha Mar when da next cat 6 hit Nassau wit 200 mph in da next 10 years??? Better ask Brave.

What’s NEMA saying bout 250,000 Nassau Evac during next cat 6 in 2028? Brave

How BEC ga keep da Port light on ?

Absolutely correct Well-mudda,

Where there is no vision the ppl perish (Proverbs 29:18).

Which why we need to stop construction of these monolithic energy hoggish tourism edifices (Atlantis, Baha Mar, Lighthouse Point etc.). These hotels have no regard for climate change. The hotels eat up 80% of the energy produced by BEC and the Bahamian public subsidizes BEC to the tune of debts of $550 million (according to the Citibank SPV) now being raised on Wall Street for BEC for the poor Bahamian ppl with $100 light bills to pay.

What happens when a Cat 6 hits Nassau in the next 20 years and these hotels and cruise ports are flattened?

We can theoretically evacuate Marsh Habour, but how do you feed 250,000 in Nassau?

Yeah, like Hot Mix and BPL.

Remember dem?

“We will rebuild better and stronger” the prime minister added.

How is this possible with the same Town Planning and building code regulators who watched “the Mudd” flourish for the last 50 years.

You can’t expect a different outcome with the same inputs.