The Barbados Light and Power Company (BLPC) told the utility regulator hearing its request for a rate hike that it was prudent to pay some $100 million in dividends to the Canadian owner of the business seven years ago.That was the testimony of the sole witness of the BLPC, Managing Director Roger Blackman who gave evidence today before the Fair Trading Commission (FTC).Blackman said transferring the money from the company’s self-insurance fund – which had too much money – to new owner Emera Caribbean was to allow BLPC to better manage its capital structure.
