Grand Bahama Power Company

What Grand Bahama Power Company does

Grand Bahama Power Company Limited (GBPC) is a privately held, vertically-integrated regulated electricity utility headquartered in Freeport, Grand Bahama. The company is the sole provider of electricity on Grand Bahama Island under an exclusive franchise granted by the Grand Bahama Port Authority that runs until 2054. It serves approximately 18,800-19,500+ customers across residential (about 80% of customers), commercial, and large industrial segments, supplying power from West End in the west to Sweeting's Cay in the east.

GBPC operates approximately 98 MW of oil-fired diesel generation, 138 kilometers of transmission facilities, and 860 kilometers of distribution facilities. Its technical stack centers on the 52 MW West Sunrise base-load plant equipped with six MAN diesel generator sets, supported by Advanced Metering Infrastructure (AMI/smart meters) that enables two-way utility-customer communication, a Renewable Energy Rider (RER) net-metering program capped at 3 MW island-wide, and customer-facing digital tools including the Energy Advisor and Smart Home platforms. The AMI deployment and over $6 million invested in transmission and distribution hardening from 2017-2019 form the basis of grid modernization. Storm preparedness and Hurricane Dorian restoration (a $15.6 million program recouped over five years via a Storm Recovery and Stabilization charge) are central operational competencies.

GBPC earns revenue primarily through regulated electricity sales, with a base rate covering operating expenses, depreciation, and return on capital, plus a fully pass-through fuel charge that varies monthly under a hedging program. Pricing is set by the Grand Bahama Port Authority under a Regulatory Framework Agreement established in 2012; the new Equity Rate Adjustment (ERA), effective June 2026, restructures residential tariffs to reduce bills by an expected 35-49%. Additional revenue streams include connection and installation fees, demand billing for commercial/industrial customers, and recurring night guard light services. GBPC is majority-owned by Emera Incorporated (TSX: EMA), which holds approximately 80.4% direct and indirect interest, with the balance held by ICD Utilities Limited. As of May 2026, Emera announced an agreement to sell its 100% interest, and the government of The Bahamas separately announced plans to acquire GBPC through $280 million in loans.

Name

Grand Bahama Power Company

Legal name

Grand Bahama Power Company Limited

Website

https://gb-power.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

101–250 employees

Short description

Grand Bahama Power Company is the sole regulated electricity utility on Grand Bahama Island, serving approximately 18,800-19,500+ residential, commercial, and industrial customers from a vertically-integrated 98 MW oil-fired generation, transmission, and distribution system under an exclusive Port Authority franchise running until 2054.

Ownership category

akta.pro rank

Headquarters

HQ city

Freeport

HQ country

Bahamas

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity Sales: GBPC generates revenue through the sale of electricity to approximately 19,500+ customers across residential, commercial, and industrial segments. The regulatory rate structure consists of two components: a base rate to recover operating expenses, depreciation, and return on capital investment; and a fuel charge to recover all fuel costs (full pass-through mechanism).
2. Night Guard Light Services: Revenue from night guard light services for lighting private, commercial, and industrial areas, with maintenance provided by GBPC.
3. Connection and Installation Fees: Charges for new connections, disconnections, pole installations, and temporary services.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Grand Bahama Power Company is the sole vertically-integrated electricity utility on Grand Bahama Island, generating, transmitting, and distributing power to approximately 19,000+ residential, commercial, and industrial customers under an exclusive franchise granted by the Grand Bahama Port Authority through 2054. The company sells electricity through regulated rate tariffs (Residential, Commercial, and General Service Large), supplemented by Demand Billing, Night Guard Lights, the Renewable Energy Rider buy-back program, and connection and installation services. Generation is anchored by approximately 98 MW of oil-fired capacity including the 52 MW West Sunrise Plant.

Product overview

Grand Bahama Power Company is a vertically-integrated, sole-provider electricity utility serving Grand Bahama Island with approximately 18,800-19,500+ customers. The company operates a core electricity generation, transmission, and distribution network with about 98 MW of oil-fired generation capacity. The product portfolio includes residential and business electricity services, Advanced Metering Infrastructure (AMI) with smart meters enabling two-way communication, the Energy Advisor tool for usage analysis, a Smart Home demonstration program, the Renewable Energy Rider (RER) allowing customers to sell solar/wind energy back to the grid, and the new Equity Rate Adjustment (ERA) tariff structure. Additional offerings include Demand Billing for large commercial customers, Night Guard Lights service, and Budget Billing options. The company is majority-owned by Emera Incorporated and regulated by the Grand Bahama Port Authority through 2054.

Differentiator

Problem solved

Functional benefit

Products and services

• Residential Electricity Service Regulated usage-based electricity generation, transmission, and distribution service for residential households on Grand Bahama Island. Includes standard residential rates, a $500 minimum security deposit, no base tariff on the first 200 kWh under the ERA, and access to Budget Billing and ERA savings of 35-49% for lower-consumption customers.
• Commercial Electricity Service Regulated electricity service for commercial, light industrial, and institutional customers on Grand Bahama Island with a $800 minimum security deposit, $45.55 minimum monthly charge, and Economic Development Rate options. Includes optional Demand Billing and access to Business billing and services.
• General Service Large (Industrial) Electricity Service High-voltage electricity service for large industrial and manufacturing customers, delivered at 12,470 volts 3-phase, with a minimum 5-year term, a security deposit equal to twice the average net monthly bill, and Demand Billing on kilowatt and kilowatt-hour measurements. Includes the Large Industrial Rate to avoid future generation investment costs.
• Renewable Energy Rider (RER) Buy-back program for residential and commercial customers on Grand Bahama who own renewable generation systems (solar PV, wind turbine, or other sources), enabling them to sell excess energy back to the GBPC grid at a credit of 1.1 times the prevailing fuel charge, subject to a 3 MW island-wide capacity cap.
• Demand Billing Billing arrangement for commercial and industrial customers that measures electricity demand in kilowatts and energy consumption in kilowatt-hours through demand meters, enabling time- and load-sensitive pricing for high-usage business customers.
• Night Guard Lights Recurring private lighting service for commercial, residential, and industrial customers, providing dusk-to-dawn illumination of private areas with maintenance handled by GBPC.
• Connection and Installation Services Ancillary paid services covering new electricity connections, disconnections, pole installations, and temporary service setups for residential, commercial, and industrial customers on Grand Bahama Island.

Quantifiable outcome

• Residential customers can save 7% to 12% on total electricity bills with rate reductions approved in 2016
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Grand Bahama Port Authority (GBPA)coreStrategic or Co-development PartnerGBPA is GBPC's regulator and franchise grantor, providing exclusive rights to operate on Grand Bahama Island until 2054. GBPA oversees regulatory framework, rate approvals, and licensing.
• CARILECminorStrategic or Co-development PartnerCaribbean regional energy association that provided support during Hurricane Dorian restoration efforts, including crew assistance from member utilities in Barbados.

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Fortis Inc. North American and Caribbean regulated utility holding company (parent of Caribbean Utilities Company). Comparable as a diversified regulated utility with Caribbean island utility holdings, broader portfolio than GBPC's single-franchise model.
• Emera Inc. GBPC's majority owner (~80.4%) and parent of a North American and Caribbean regulated utility portfolio. Comparable as the controlling operator of GBPC's own regulated franchise and sister Caribbean utilities; broadly incumbent in the same space.

Direct peers

• Barbados Light & Power: Emera Caribbean Holdings subsidiary operating the regulated integrated electric utility on Barbados. Comparable on size, business model, parent (Emera), regulatory structure, and Caribbean island operating environment.
• Trinidad & Tobago Electricity Commission (T&TEC): State-owned vertically-integrated regulated electric utility serving Trinidad & Tobago. Comparable as a Caribbean island monopoly utility with generation-T&D-retail integration, though substantially larger and operating a different fuel mix (natural gas).
• Bermuda Electric Light Company (BELCO): Emera subsidiary serving Bermuda with similar small-island integrated generation, transmission, and distribution profile. Directly comparable as a fellow Emera Caribbean utility of comparable scale (~35K customers) operating under regulated monopoly structure.
• Caribbean Utilities Company (CUC): Vertically-integrated regulated electric utility serving Grand Cayman with ~35K customers. Directly comparable on island monopoly franchise, generation-T&D integration, and Caribbean regulatory environment; differs as a publicly-traded Class A company on TSX.
• Belize Electricity Limited (BEL): Vertically-integrated regulated electric utility serving Belize with a national franchise including island-adjacent service territory. Comparable as a Caribbean/Central American regulated integrated utility with monopoly franchise and similar oil/diesel dependence.
• Jamaica Public Service (JPS): Vertically-integrated regulated electric utility serving Jamaica with ~600K customers. Closest large Caribbean regulated-monopoly comparable, with similar fuel mix and hurricane exposure; differs materially in scale.
• Bahamas Power and Light (BPL): State-owned vertically-integrated electric utility serving New Providence (Nassau) and other Bahamian islands. Closest comparable to GBPC: same national regulatory environment, similar oil-fired generation fleet, monopoly franchise structure, and post-Dorian hurricane recovery experience.

Regional players

• Virgin Islands Water and Power Authority (WAPA): Autonomous government instrumentality providing electricity (and water) to the U.S. Virgin Islands. Comparable as a Caribbean island regulated integrated utility with oil-fired generation and severe hurricane exposure; operates in a different regulatory jurisdiction (US territory).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/gbpowercompany
• Xx.com/TweetGBPC

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Grand Bahama Power Company