NASSAU| Prime Minister the Hon. Philip Davis KC MP today issued a comprehensive statement to the Bahamian people on the economic and security implications of the ongoing conflict in the Middle East, confirming that deliberate policy decisions made early in this administration are protecting Bahamian households from the worst effects of the global energy shock.
With international oil prices having surged from approximately $70 to well above $100 per barrel following disruptions to the Strait of Hormuz, Prime Minister Davis confirmed that electricity bills will not rise as a result of the current crisis.
“I am grateful to be able to say that policy changes we began to make early in our term have built more resilience into our system. Your electricity bills, which are lower already from the changes we have made, will not be impacted by the current crisis.”
The Prime Minister cited major energy reforms, efficiency improvements, and risk mitigation strategies including energy diversification through LNG as the foundation of that protection. Those investments, made while conditions permitted, now serve as a direct shield against global price volatility.
On regional security, Prime Minister Davis confirmed that the Royal Bahamas Defence Force is on full operational alert.
RBDF assets are deployed and actively monitoring The Bahamas’ maritime domain from Great Bahama Bank to Cay Sal Bank to Anguilla Cay, operating in close coordination with the United States Coast Guard. In a demonstration of that readiness, RBDF personnel intercepted fifty-seven Haitian migrants at Little Inagua over the past two days, with all individuals transported safely to Great Inagua.
The Prime Minister confirmed that the investment his government made in strengthening RBDF capacity upon taking office was made precisely to ensure the country was prepared for periods of regional instability.
This afternoon, Prime Minister Davis will meet directly with the Retailers Association.
That meeting is focused on the April 1 VAT reduction on food and ensuring that relief reaches Bahamian families at the till. The Prime Minister indicated his intent to hear retailers’ concerns directly and identify practical steps to ensure cost relief is passed through to consumers.
Prime Minister Davis also confirmed that Minister of Foreign Affairs Fred Mitchell has been directed to engage regional counterparts, and that he himself is in direct contact with international partners to monitor developments and coordinate response.
The Prime Minister’s full statement is available at opm.gov.bs.
