The president of Belco has called for all electricity generators, including those used by private solar energy companies, to be cost-regulated and to protect his company’s customers.

Wayne Caines, who was speaking after a town hall on the National Electricity Sector Policy, called control over costs “essential” to maintaining “a level playing field”.

He said: “Affordability matters, but it cannot be achieved by shifting costs onto those least able to bear them.

“Every sector must carry its fair share, including solar PV generators.

“We cannot end up in a situation where those who can least afford electricity are subsidising those who can.”

Alexa Lightbourne, the Minister of Home Affairs, held a policy consultation meeting on Monday at St Paul AME Church on Victoria Street.

Mr Caines said that achieving an energy grid that met these standards required everyone working together, as well as “evidence-based decisions and equitable regulation”.

However, he insisted that Bermuda needed to remain “stable and attractive” so that others would be willing to invest the capital necessary to make an energy transition.

Mr Caines said: “Belco has demonstrated that commitment, having made significant investment in infrastructure at our plant on Serpentine Road and across our grid.

“We made a responsible, forward-looking business decision to install dual-fuel engines at the North Power Station.

“This investment was critical to replace ageing infrastructure and ensure reliability of supply.”

Mr Caines said Belco would continue to provide base load electricity, which is the minimum amount of electricity Bermuda needs to function. Base load is regarded as critical at time when renewable energy production falls short owing to lack of sun, wind or another renewable energy sources.

He said: “We believe the path to lower long-term costs requires rigorous, independent analysis of all fuel alternatives, including liquefied natural gas.

“Any investment in fuel infrastructure must deliver real savings over the long term and meaningfully reduce our impact on the local community and environment.”

Mr Caines added: “Bermudians deserve a policy framework that is honest about costs, equitable in its application and grounded in evidence rather than assumption.

“NESP 2026 can be that framework, but only if the process that follows is rigorous and inclusive of all voices.

The NESP is available for public review and consultation at forum.gov.bm.

Consultation ends on Thursday at 5pm.