Gov’t must consider getting fuel from other suppliers
Chairman of the BVI Chamber of Commerce and Hotel Association (BVICCHA) Shaina Smith-Archer said she believes other suppliers of fuel should be sought to provide the Virgin Islands with fuel to reduce the cost of electricity as inflation rises.
Smith-Archer said global inflation has driven up the cost of fuel which has impacted the cost of electricity in the territory.
The BVICCHA Chairman noted that she has seen in other Caribbean jurisdictions where governments have done subsidies to households where once a certain number of kilowatts is used, the government basically picks up the tab.
However, Smith-Archer does not think this method is sustainable and said things must start from the providers of fuel.
“If the price of electricity is being driven by the price of oil, then we need to look for fuel from other sources. So, we have two main suppliers that bring in oil here. And again, they don’t manufacture, they buy from someplace else. So, we’re buying from particular sources, and you know, they’re not necessarily at this price and we need to shop around,” Smith-Archer said.
She noted that while people may frown on the idea, the government will never know until they look around for different suppliers that may provide fuel at a cheaper rate.
Don’t think outside the box… build a new box
The BVICCHA Chairman also mentioned one of the biggest lessons emerging from the pandemic is the territory’s ability to construct a new ‘box’—not following the proverbial phrase of ‘thinking outside the box’ but rather constructing a new box to deal with unprecedented problems that arose. She said this must be long-term thinking.
“The news last week showed billions of dollars and profits that the oil companies have made over the last year … and makes up for the losses that they had during the lockdowns for over a year. But it is something, though, that with inflation, it’s like what $1 couldn’t buy a year ago, it can’t [anymore],” Smith-Archer said.
“And that’s essentially what inflation does, it decreases your buying power. So, it is important, you know. Inflation again is something that is for a time. The challenge you have is you don’t know for how long. We could do certain things for a period of time hoping it gives particular results. But the important thing is you have to actively be doing something we can’t just throw up our hands and say, ‘oh, well you know, this is the fuel cost and you know if it keeps going up we must accept it’,” she added.
Smith-Archer’s comments come weeks after it was announced that regional petroleum company, SOL St Lucia Ltd (BVI), was in line for a contract to replace Delta Petroleum as the main provider of No. 2 diesel fuel to the BVI Electricity Corporation (BVIEC).
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Okay. How do you treat this? The EC already has sourced another provider months ago. This would have been a more useful article if it came out 4 years ago
All talk, no substance, and absolutely no intention on following through.
This is all about positioning for the election. What is even more frightening is that because of the inept nature of our current 13 elected officials, she may well get in!
Exactly!! It is time to shop around for the best price so that relief can be brought to our people. The electricity bills are very outrageous, and our pay cheques cannot support it!
everybody coming out stating the obvious now that its near to election time.
Check out who owns the number 1 supplier.
Same old, same old .
Another Natalio has all the mouth outside of the ring and when inside they are lost and clueless. We need people with a track record that they have led in the past and can make a great contribution in the political ring.
Actually, what needs to happen is the government need to be VERY transparent on who has a vested interest in the BVIEC and who benefits from the profit it makes. Then it may become very clear why nobody seems interested in driving down prices or allowing any competition which would benefit consumers. The owners of the BVIEC are interested in their profits and not in getting the best price for the people of this territory.
@hmm (We need people with a track record that they have led in the past and can make a great contribution in the political ring). You’re correct but who are these people, where are they and can you give some names.
Those people are right here in the BVI!!! Check the locals in the private sector and those at the executive level at FSC. A better question is why politics in the BVI are only attracting certain caliber of people?
Shaina will do better than Sharie, Alvera and Shereen all together
UK.
Salt Island would be perfect for a nuclear power plant location.
I believe you , and we have 3 outspoken women – Shaina Cindy and kishma , and don’t believe they ain’t puppets like those 3 pretenders ( and that is putting it nicely) and the can go and sit in the street for as long as they like ? and the vg QUEEN ? can entertain themselves with her wannabe calypsoes 3 wigs 3 wraparound 3 spears 3 shields and some drums for their war on the UK ?
Electricity too