The Fair Trading Commission’s (FTC) sometimes competing roles of regulator on one hand and advocate on the other, have come sharply into focus during the on-going application by the Barbados Light & Power Company (BL&P) for an increase in electricity rates.Much to the chagrin of consumers, the FTC has already granted the Canadian-owned power supplier an interim increase, until a final decision is made on the substantive request.Any business will try to extract the highest level of returns for its products or services, but a utility company is a special animal because the good that it is selling is a necessity for the proper functioning of a modern society such as ours.Importantly, any further increases in the cost of electricity will have a negative ripple effect throughout the economy as this recurring cost will be passed on by most enterprises and will likely result in increased costs across the board.
