The Fair Trading Commission has approved and issued its decision on the Barbados Light & Power Company Limited's application to recover the costs of the 5 mega-watt energy storage device, or ESD, through the fuel clause adjustment, or FCA.
In a statement, the FTC said the BL&P application, which was submitted in August 2017, outlined the BL&P's request to recover the costs of a 5 mega-watt to 20 mega-watt electronic storage device via the fuel clause adjustment.
In its decision, the Commission determined that: the costs of the electronic storage device are prudently incurred, and the BL&P will be allowed to recover said costs.
The Commission adds that the fuel clause adjustment is an acceptable mechanism to recover the costs of the electronic storage device.
It has therefore approved recovery of the ESD's costs for a period of three years, commencing from September 1st, 2018.