DOMLEC Re-Introduces their Management Team
On Wednesday May 22nd, DOMLEC held a Press Conference to re-introduce their management team and speak briefly on their future for the Company and the Island.
Mrs. Sarah MacDonald, President and CEO of Grand Bahama Power Company, Executive Chairman of Light and Power Holdings, and President of ICD Utility, says, each Island is very different in culture and landscape including electric utilities.
It’s very difficult to take advantage of any opportunities of scale and size because each company operates individually, she reiterated.
Mrs. MacDonald, also President of Amera Caribbean Limited and the new Chairman of DOMLEC, said the price for electricity is high due to the cost of fuel.
Whether it is wind, solar, geothermal or natural gas the Company believes the opportunities are there to start bringing in renewables. This will help reduce costs and their reliance on oil.
According to Mr. Collin Cover, General Manager of DOMLEC, plans for reducing the cost of electricity is centered around reducing dependence on fossil fuel. More than 40 percent of the cost of the service, he says, is as a result of the high cost of fuel.
DOMLEC is hoping to introduce partners and local shareholders as investors in the company.
Mr. Peter Williams, Managing Director of Light and Power Holdings in Barbados, is in agreement with Mr. Robert Blanchard, former Chairman and Member of the Board of Directors. As an affiliate of DOMLEC, he says, they will support the Company’s role with their participation in the geothermal project.
Mr. Williams also stated, due to the topography, size and small customer base in Dominica, there is a higher cost per unit to distribute electricity to customers.