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08142026 BUSINESS

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Friday, august 14, 2026

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Ex-CEO: BPL overtime payouts ‘off the charts’ BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net A FORMER Bahamas Power & Light (BPL) chief executive yesterday said he was “shocked” by overtime figures he branded “off the charts” as it emerged that such payments have previously equalled almost one-third of the state-owned utility’s regular payroll. Whitney Heastie, who headed BPL management under the Minnis government before stepping down in 2022, told Tribune Business that his executive team had “worked” to reduce BPL’s overtime bill by devolving responsibility for managing how many extra hours were worked, by whom and how much they were paid to individual department heads and managers. This, he explained, allowed senior BPL executives to “drill down” at “the ground level” to detect where significant overtime was being incurred, as those employees and departments receiving significant extra hours and

Former top executive ‘shocked’ at size of payments Overtime previously equal to 27-32% of BPL base pay But argues ‘work to rule’ should ‘never come into play’ payment would then “float to the top of the spread sheet” senior managers received monthly. But, speaking after the Bahamas Electrical Workers Union (BEWU) threatened industrial action over BPL’s planned overtime policy changes, following revelations that just three workers in one department collected more than $600,000 in overtime between them in 2025, Mr Heastie told this newspaper that a union ‘work to rule’ should “never come into play” on this issue as overtime is not an entitlement nor guaranteed.

Meanwhile, well-placed Tribune Business sources, speaking on condition of anonymity, confirmed that overtime has long been a “huge, huge, huge” issue at BPL. They revealed that an internal audit, conducted under the Minnis administration, found that the state-owned energy monopoly’s monthly overtime payments averaged between 27-32 percent of its regular base salary payments. This, they added, was more than double the global electricity industry’s average where overtime payments were typically equal to 12

BPL union chief labels $20m overtime bill as ‘distraction’ BY FAY SIMMONS TRIBUNE Business Reporter jsimmons@tribunemedia.net A UNION president yesterday accused the Government of using Bahamas Power & Light’s (BPL) overtime costs as a “distraction” from the wider problems plaguing the electricity sector as the Davis administration branded the near-$20m

annual bill as “unsustainable and unacceptable”. Kyle Wilson, the Bahamas Electrical Workers Union’s (BEWU) leader, said the sudden focus on overtime expenses was diverting attention from what he described as failures at Bahamas Grid Company (BGC), which now has responsibility for New Providence’s transmission and distribution grid, even though BPL continues to provide

Bank: $9m-$10m yearly share buy-back spend BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net COMMONWEALTH Bank says it has no plans to act as “a market maker” for its stock through a recently-unveiled five-year share buy-back initiative upon which it expects to spend between $9m-$10m annually. Tangela Albury, the BISX-listed lender’s chief financial officer, in e-mailed responses to Tribune Business questions said it had set ceilings and timelines to make the programme “measured, transparent and manageable” although it is not seeking to “defend or artificially influence”

TANGELA ALBURY a share price that closed yesterday at $4.06 - just above its $4 52-week low on the Bahamas International Securities Exchange (BISX). Commonwealth Bank has stipulated that share REPURCHASE - See Page B4

Sebas: Public trust vital to AI adoption BY FAY SIMMONS TRIBUNE Business Reporter jsimmons@tribunemedia.net A CABINET minister says public trust will be critical to the speed at which The Bahamas’ adopts artificial intelligence (AI) as the Government prepares to develop its national strategy and governance framework focused on privacy, cyber security, transparency and human oversight. Sebas Bastian, minister of innovation and national development, said the Government’s approach will be

people-focused, with public consultation and input from the private sector, academics, civil society and the legal community forming part of the process before wider AI adoption across government. “I think the public trust is going to come in the form of how responsible we start to implement our AI practices,” said Mr Bastian. He added that the Government recognises that Bahamians have legitimate concerns about artificial intelligence, including privacy, security,

ARTIFICIAL - See Page B9

KYLE WILSON assistance with grid-related work. “It is just an outright distraction from the failed policies and these third-party contracts that Ms [Christina] Alston, the chair lady, had given to all of these various companies that are failing the

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Tourism’s ‘bigger picture’ concerns over fees fall-out BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net

Bahamian people,” Mr Wilson said. “So you're trying to look into BPL to create a distraction from all the failure and the Bahamian people suffering from massive power outages at the hands of Bahamas Grid Company, not BPL.” Mr Wilson argued that the Government should instead be addressing the continuing power outages affecting consumers across New Providence and the performance of Bahamas Grid, the 60 percent private sector owned entity that was established to take over BPL’s transmission and distribution functions.

TOURISM executives say they have yet to receive complaints over retroactive triple-digit fee hikes facing private aviation but urged regulators to consider the “bigger picture” and not “ruin The Bahamas’ image”. Emanuel Alexiou, the Bahama Out Island Promotion Board's president, told Tribune Business he and others are still seeking details on the Bahamas Air Navigation Services Authority (BANSA) invoices issued to private pilots and aircraft owners/operators with the tourism and hotel industry now in monitoring mode to catch any negative fall-out. This newspaper reported earlier this week that the billings impose fee increases of between 294 percent to 679 percent on private aviation, which represents a lucrative, high-spending segment for Bahamian stopover tourism, while making these retroactive to May 1, 2021. Mr Alexiou, who also owns the Abaco Beach Resort, told this newspaper he has no issue with The Bahamas and its regulators seeking to recover legitimately-incurred costs from providing air navigation services to users of this country’s sovereign air space. Rather, his difficulty lies with billings that are “excessive and back charging” as they could deter a tourism segment that is vital in spreading the sector’s benefits through the Family Islands from wanting to travel to The Bahamas. “I haven’t heard any complaints from the hotel sector or tourism sector,” the Promotion Board chief told Tribune Business. “We’ve been trying to get to the bottom of it, but there hasn’t been a lot of noise; not from the tourism sector yet. “What surprises me is that many of the same people have already supposedly paid the original fee, and now they are being back charged with the threat that their planes could be subjected to a lien or taken away.” The retroactive billings stem from BANSA’s move to last year reform the fledgling air navigation services regime. The fees are split into two types - origin/destination charges, which are levied on planes that take-off and land in The Bahamas, and then overflight fees. The latter are levies paid almost entirely by international carriers that fly through, or transit, Bahamian air space without stopping in this nation. BANSA is restructuring its air navigation services fee regime in a way that shifts the financial burden of these fees on to take-off/

COSTS - See Page B12

ARRIVALS - See Page B11

WHITNEY HEASTIE percent of base pay. Given that BPL’s monthly payroll at the time was around $4.5m, this meant that overtime payments were averaging between $1.215m and $1.44m per month. On an annual basis, this translated into between $14.58m and $17.28m in incurred overtime costs - a sum close to the near-$20m that the Davis administration cited yesterday. “They found out that, every single month, 27-32 percent of base pay was paid out in additional overtime,” one source said. “It was definitely close to

EARNINGS - See Page B5


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