FOCOL Holdings to Save Nassau $120M Annually with LNG Transition in Electricity Generation
FOCOL Holdings plans to transition New Providence's electricity generation from heavy fuel oil and automotive diesel oil to liquefied natural gas, potentially saving consumers up to $120 million annually in fuel costs. The initiative aims to provide lower energy costs, environmental benefits, and greater reliability. The introduction of LNG at Clifton Pier this year marks a significant milestone for The Bahamas' energy sector.
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FOCOL Holdings is transitioning New Providence's electricity generation from heavy fuel oil and automotive diesel oil to liquefied natural gas, projected to save consumers up to $120 million annually in fuel costs. CEO Dexter Adderley stated that while the exact impact on electricity bills cannot be detailed, the savings will be substantial.
This shift to LNG is expected to enhance reliability and align The Bahamas with global energy standards. The first introduction of natural gas at Clifton Pier this year is set to lower emissions and stabilize pricing.
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