Barbadian company to acquire DOMLEC

Light & Power Holdings Ltd. (LPH) of Barbados has said that it has signed a letter of intent to acquire controlling interest in Dominica Electricity Services Ltd. (DOMLEC) from WRB Enterprises Inc. of Tampa, Florida.

In a press release, LPH said both companies are working to have the transaction completed before the end of 2012.

DOMLEC is the sole electric utility for Dominica, serving 34,000 customers. WRB owns 52 percent of DOMLEC, with 21 percent held by Dominica Social Security Scheme and the remainder by other investors.

“The acquisition of DOMLEC is consistent with our strategy to build a business of scale in the Caribbean,” LPH Managing Director Peter Williams said in the press release. “We believe our operational expertise, and our commitment to stabilizing customer costs by introducing alternative sources of energy for electricity generation, create new potential for adding value to the benefit of customers in Dominica. We also look forward to maintaining a productive relationship with local investors, including the Dominica Social Security Scheme.”

“WRB is proud of our association with DOMLEC, and with accomplishments at the company over many years,” said WRB’s President, Bob Blanchard, Jr. “This has not been an easy decision but we have come to know LPH and believe this decision will enhance the capacity of DOMLEC to serve its customers.”

Blanchard added that LPH and WRB are working together to implement a continuity plan to ensure change of control activities occur with customer service and employee alignment as a priority.

The release said LPH and WRB have also agreed they will collaborate in the future on development of new renewable energy projects in the Caribbean.

Light & Power Holdings, an investment company with electricity being its core business, is a majority-owned subsidiary of Emera Inc., an energy and services company based in Halifax, Nova Scotia. LPH has a majority interest in The Barbados Light & Power Company Limited, which has been serving electricity customers in Barbados since 1911, and holds a minority interest in St. Lucia Electricity Services. The Common Shares of Light & Power Holdings are quoted on the Barbados Stock Exchange.

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83 Comments

  1. Jerry Jones
    September 17, 2017

    I tried several time in recent months to build a commercial solar farm in Dominica to offer cheaper electricity, only to be turned away by the government as unqualified to provide solar energy sales to DOMLEC. I never solicited any help from the government, I would finance the entire project from my corporation. After seeing the high electrical prices in Dominica, knowing what solar prices are in other parts of the world, I saw an opportunity to cut retail costs to homeowners, increase the customer base, and make a decent return on my investment. All of my inquiries were blocked, denied, or totally ignored. You can blame the white man if you wish for “buying up” Dominica, but I think research may prove, the Dominica power leaders are selling your country….for a possible profit.

    I purchased a home and entered citizenship proceedings….to be told.. I should go back where I came from.

    Jerry Jones
    Del Sol Generation, IBC.

  2. Greg
    November 30, 2012

    Judta thought. If we intend to go into geothermal energy prduction isn’t it worthwhile that the government buy the company and redirect some of the revenues towards the ” small geothermal plant” ?
    As it stands DOMLEC will be controlled by a foreign company and so will the geothermal plant- if that ever come to fruition.
    After 30 years of independence we cannot even own our utility companies. Aren’t we tired of shipping our money to other countries. We are importing almost everything. It is time that we put an administration that fully understand what the country need rather than what politicians want for themselves.
    After all these years in office the dumber the politicians become.

    • Choice - X
      December 2, 2012

      Hey Greg,

      You just could not have said it any better than that. If there were more conscious people like you probably Dominica would not be so. But Dominica is being taken to hell in a hand basket and the populace is smiling all the way

    • anonymous
      December 9, 2012

      I see no reason to hamper the acquisition of Domlec by a foreign company. We have ceased to act as an independent nation long ago and are now pawns of China nad Venzuela. With all our desire for sovereignity, we need to bear in mind that the government may not have the means to purchase any shares from WRB. The acquisition may well prove to be beneficial to Dominican pockets.

  3. Gangnam Style
    November 29, 2012

    This is my wish, that Lennox,Arthie, Michael A, Sabie, Blessing, my good friend from Soufriere with the british accent amd all of our frequent Q95 callers to pull all our resources together and buy this baby.

  4. Vigilant Dominican
    November 29, 2012

    Dominica should be one of the countries where utilities should be cheaper than what it is…we still have the hydro plant in Laudat just dormant! we have all these hot-springs we have all over the country, geothermal energy….instead we are burning diesel in one location in fond cole and the everyday workers are the ones who suffer the most. I honestly think that the government shouldn’t allow this deal to go through and should use their political influence to interfere…

  5. Cesare Bonventre
    November 29, 2012

    Meanwhile, another satisfied geothermal electrical customer:

    “We hired PMC to do its first full scale power plant construction job for our 49 MW Hudson Ranch I geothermal project. They were customer-focused, flexible and highly productive. The result was a high quality finished product that smoothly attained commercial status in a short time.”

    – Dave Watson, CEO EnergySource

  6. Cesare Bonventre
    November 29, 2012

    Meanwhile: Montserrat signs Geothermal Contract with Iceland Drilling Company Ltd.

    Dominican government has been mishandling geothermal development since 1995!

    http://www.sknvibes.com/news/newsdetails.cfm/64681

    • Marigotian
      November 29, 2012

      So so so true. Watch and you will see. All dem that talking getting lil pitance from skerrit.

      Society of mediocracies and ignorant. After 2o years and last in the caribbean i want to hear u’ll. Time to come slowly but surely our demise!!!!!

      Good thing i am from Marigot, we were not responsible wid all u!!!

  7. Headline
    November 29, 2012

    SO now the name will be BarbLec.

  8. SlowlyButSurely
    November 29, 2012

    UWP sold domlec to cdc or whoever for little bit of money then that same company sold domlec for a number of times more than what they bought it from the govt (UWP). After a certain amount of years the value for a good/product/house/business etc can go up or go down and in domlec case is up it going. Skerrit acquiring domlec would cost us money which we apparently don’t have. It would be a good if domlec was nationalized however at this stage we do not have the funds to do so. Unless if skerrit does like papa chavez and just move in with his army and acquire the building and nationalize! lol

    • Anonymous1
      November 29, 2012

      Slowly either you are a liar or you are not aware of what went on..UWP sold it for 21 million then it was sold to WRB for 12 million. Check the difference.

      • Anonymous
        November 30, 2012

        8-O who sold it to WRB for 12 million? CDC? so how much are they selling it to Bajan company for?

    • Choice - X
      December 2, 2012

      @ SlowlyButSurely,

      Don’t want to say you are a LIAR, but the fact is that Domlec was sold to CDC for about 22 mil and CDC sold it to WRB for 1/2 the amount. Skeritt and crew threw away a golden opportunity to buy it back then. Then Ambassador Crispen Gregoire asked the govt. then to buy it, and they refused.

      Further more you say Dominica has not the money to buy something that would bring them immediate revenue yet, they can throw away 8 million dollars on a LOSS making entity like LIAT

  9. Marigotian
    November 29, 2012

    Wey i feeling sorry for us..well well no mercy..no better in sight.

    One day…One day

  10. Cesare Bonventre
    November 29, 2012

    Did the government of Dominica send anyone to the Geothermal Energy Expo 2012 in October?

    If so, what were the findings?

    If not, why not?!

    http://www.geothermalenergy2012.com/exhibitors.asp

  11. Truth be told
    November 29, 2012

    Talk about lack of strategic vision! So I ask all my fellow Dominicans – and I don’t care which political party you support – I myself have nothing for or against the Rt Hon PM Skerrit – so please forget your ploitics for a second. Would you prefer the Government of Dominica buy back Domlec or build a State House? Which one do you believe contributes more to the development of Dominica. And by the way the only reason uncle Chavez can sell us deferred payment oil under Alba is because he took back all Venezuelan oil companies from the Americans and Europeans – and I admire him for that! Even uncle Chavez knows that, “He who controls your resources and cash cows controls your destiny, Dominicans!” Foreigners owning Dominica under the current Government!

    • Yes I
      November 29, 2012

      1. DOMLEC is NOT a cash cow. The profits they make are relatively Modest believe it or not.

      2.It would cost the Government an arm and a leg to run DOMLEC efficiently. (N.B. The employees now become quasi Civil Servants)

      3. Chavez did what he did after all infrastructure was placed there by international companies
      -Chavez operates a socialist administration
      -Venezuela’s private sector is under performing dramatically
      -and at the end of the day when it is all said and done he has oil, LOTS OF OIL..

      4. Private sector Ownership of Electricity companies is NOTHING bad. its done in almost every successful economy.

      However, the State House money spent is silly , selfish , misguided, arrogant and deserved because we let it happen

  12. Zor
    November 29, 2012

    I bought $40 electricity yesterday and got $28.70….wonder how much I will get come January 2013?

  13. Annonymoustoyou
    November 29, 2012

    I want to know why is after they finish do all their negotiations and transactions they want to inform people about it????

  14. Simple Minded Guy
    November 29, 2012

    This I must say came as a surprise to me when I heard the news on DBS this morning. From the manner it was reported it seems like this is a done deal. Curious as to why WRB did not offer the Government and by extension people of Dominica the opportunity to buy it (then again maybe they did), but it should be noted that when we (Government & Dominicans) owned Domlec it was said that the entity was not profitable thus the reason for selling controlling shares back then, as soon as that was done it (Domlec) became profitable and last year posted profits in excess of 6 million dollars, so the big question is why sell a company or controlling shares in such a company? What is it that is in there that the public is not aware of? Is it that they just got bored and tired of the Nature Isle and want to move on? In partnership the first offer in most cases usually goes to current shareholders, of course I don’t expect DSS to be capable of buying the 52% shares since they can’t even pay retirees, maybe the Government should take a go at it and run it in the same manner WRB did making less profits to the benefit of Dominicans on a whole, then again just maybe all T(s) have been crossed and all I(s) dotted.

    Now the bigger question and concern: WRB also owns Marpin 2K4 Ltd, are they going to do the same sell their controlling shares (if shares are allocated) and assuming that this company is less profitable than Domlec! Those of us that listen keep hearing that things are not as sweet as the promises made at this company, guess we will have to wait and see!

  15. Foreigner
    November 29, 2012

    What are the prospects of electricity prices in Dominica coming down to the price on other caribbean islands? The high prices here have forced a lot of industries to close in the past.

  16. Rastar-Marn
    November 29, 2012

    Garçon how comes no body taking d Chief Financial Office of Dominica to a competent jurisdiction to answer questions nuh,,,

    How mista can go and give LIAT 8 million, and have another foreign entity coming to rip profits from people,,,

    Allyou cannot see dat not making no sense den,,,

    All dem educated fools out there allyou cannot bring some actions against Mista Skerrit for violating the Public Trust???

  17. sidney
    November 29, 2012

    Back are the old days. Bring out your boozai people :roll: :roll:

  18. Spiffycas
    November 28, 2012

    For inquiring purposes, will Domlec shares now be traded on the Barbados exchange instead of the ECSE? If yes, will the dividends be paid out in Barbados currency? Just asking…

  19. Holiday Island Boy
    November 28, 2012

    Pssssssssssttttttt. Not Bajan! Canadian.

  20. Is Dart!
    November 28, 2012

    So why UWP had to sell DOMLEC in the first place? hmmm just now is DOMINICA that will be for sale hmm the rich will get richer and the poor will get poorer, bottom line.

  21. outsider
    November 28, 2012

    why skerrit letting everyting in dominica be sold like that.. just now the people of dominica will be sold without they even knowing until it’s too late.. a dominican should own domlec being a it’s on the island not some other national.. now they not even talkin about price decrease in electrical bills, so it’s up the bill going by january 2013, 5 percent increase wow

  22. blessed baby
    November 28, 2012

    mon dieu, y did we slide off france’s fingers?

    why the english didnt leave us the alone?

    what really did that independence do for us?

  23. DA For Sale
    November 28, 2012

    WRB also control major shares in MARPIN 2K4 together with D/ca Social Security. Will that be sold too to the new Bajan Co.?

    Dominicans control nothing as a people. Many do not care if we control nothing or the entire country is sold for pittance. Our major utilities, electricity, telecommunications under foreign control. Major construction works awarded to Chinese workers, State Palace, State College, while locals sadly watch idly by unemployed.

    PWC not involved in sub-contrct to lay asphalt on $million West coast Road rehab project. Our valuable natural resource – Geothermal energy- in foreign hands. Geothermal exploration was awarded by the DLP Govt. to a foreign co. Capable Dominicans were rejected to participate. Their proposals cast aside. What a nation. Like fools the Cabal take us to be, many still believe that Petro Caribe will reduce the electricity bills and cost of fuel. Dominica for sale?

  24. windy hill
    November 28, 2012

    These Americans can see down the road the future aint bright in DA…Domlec wise…

    Bills could get higher indeed did anyone look at the service and pros and cons of the company in Barbados so wider thinking should take place…

    but skero has some much useless chatter..why he didn’t get some Asian block or Charvez folks to purchase ahead…haha….

    hey look out Marpin better watch their step soon!

    economies with weak leadership like Dominica will soon crumble…

  25. publick servant
    November 28, 2012

    well electricity bill is surely going up again!!!!!!!!!!!

  26. 500 years behind
    November 28, 2012

    A Bajan company? The Bajan’s now they own Domlec? Boy I hope this Bajan company is not owned by the little man that is paid to advise the PM. I guess certain Dominicans will now be able to buy shares since DOMLEC will be owned by a Bajan company. Look jokes boy!

  27. block 44
    November 28, 2012

    what a name barlec.

  28. November 28, 2012

    thats why our electricity a so damn expensive

  29. Observer
    November 28, 2012

    Remember they said that UWP sold Domlec for nothing? Why hasn’t Skerrit buy back Domlec as yet? It just keeps going from hand to hand like a towel. It must be very cheap by now why people can just throw it away like that.

    • SlowlyButSurely
      November 29, 2012

      Cheap? nope…is now its expensive to maintain and so forth. UWP crook us now we have to pay for it.

      • Anonymous1
        November 29, 2012

        Slowly/………tell your inept govt to buy it.

      • Observer
        November 29, 2012

        How did UWP crook us? Please explain

  30. lookingforward
    November 28, 2012

    Great news for Dominica!Looking forward,great synergy with our geothermal potential. Looking forward NO more power outages!Looking forward an effective grid system in place.This is great great news for Dominica. Immeasurable potential for adding value to the benefit of customers and businesses.This is a Win-Win for Dominica.

    • Truth be told
      November 28, 2012

      Do you know that LPH is the sole electricity utility company in Barbados and that electricity rates in Barbados are the highest in the Caribbean? Win-win for Barbados colonial electricity company my dear – operates very much like it’s old colonial sister company CDC. Do your research before you all start to jump for joy over nothing that is going to make life better for Dominicans! @lookingforward I am sorry but this time you are lookingbackward!

      • lookingforward
        November 28, 2012

        @Truth be told…sorry but i am looking forward to the next generation,guess you cant see that far…cant keep jump starting the old car and continue to buy used parts. You are now getting a new car with its own mechanic. Efficient use and maintenance of the grids/operations will make electriciy cheaper for all dominicans…

      • Dickson
        November 28, 2012

        Truth be told, stop spreading lies! Barbados electricity rates ranks 6th in the Caribbean, Dominica ranks 11th. This is in a total of 18 Caribbean countries. Furthermore, Barbados opperates one of the most stable Grids in the Caribbean, what that means is that the seldom have power outages.
        http://www.myjpsco.com/news/000078.php

        see also :http://carilec.com/services/Tariff2010.pdf

      • Show me the money
        November 29, 2012

        Some of us Dominicans are so stupid our leaders not trying to hold nothing. Every thing in Dominica have an out side hand in it what is worng are we that back ward USA china venezuela where else now the bajan stepping in I don’t get it at all

      • rate me
        November 29, 2012

        I concur; maybe he/she will be getting a hand-out to pay his/her bill so looking forward is great!!

      • Anonymous
        November 29, 2012

        @Dickson. Thanks for the jps link. Wow!! NO wonder commercial and industrial organizations cannot survive here. Electricity alone killing them.

    • Headline
      November 29, 2012

      can’t be serious. SO everytime it is being sold you will put a spin on it. This is why Dominica remains so backward and that is because people never objectively see things for what it is. Why should a Bajan Company buy Dominica’s electrical company. This says alot about Dominica, try to find out what it is saying.

  31. Aye Dominique
    November 28, 2012

    If I had the money, I would acquire it too, it’s a cash cow. Just put ridiculous rates and millions in profit yearly. There is no other option so Dominicans do not have a choice.

    This is just some real

    • KoKo Naughts
      November 28, 2012

      Cash Cow alone?? How bout Pig, Goat, Dog, Zandolli, Manicou…..feel free to add more. Like they say, to be poor is a crime eh.

    • blessed baby
      November 28, 2012

      millions yearly? hmmm. check out how much is 34000 customers by an average 200 a month per customer.

      domlec is making much more than 6 million a month.

      yet i fraid to put on my fridge

    • Show me the money
      November 29, 2012

      Dominican do have a choice buy it out right

    • Annonymoustoyou
      November 29, 2012

      For real….and with the geothermal thing to come on stream soon, LPH going to snatch up any block of shares for sale when it goes public. So cheaper fuel for Barbados, and high rates for Dominica. SMH.

  32. A Voice
    November 28, 2012

    Weh papa, when are we going to own our own cash cows?

    You know what! I going to play that mega jackpot and if I win it, I buying Domlec and turn it into a not-for-profit institution, just to give Dominicans a break.

  33. 4Eva Tru
    November 28, 2012

    so why dont the govnt purchase domlec instead of some foreign plp.

    • Rastar-Marn
      November 29, 2012

      because d chief financial officer is the problem he have no foresight insight, and he is merely a poppet being controlled by the Privy Council so he have to do as they say,,,

      I sure when One does a little fact finding they will see who really is doing the bidding, I bet it’s some british dudes,,,

  34. Political Observer
    November 28, 2012

    How times have changed. Under Mama, Domlec was owned by dcans, now it has become a rolling stone, moving from hand to hand to hand. Will dcans ever get a chance to own that company again??

  35. Anonymous
    November 28, 2012

    This is the next level. That was your PM theme in his election bid, and so slowly he is getting all you to that level

    • you make me laugh
      November 28, 2012

      it was your pm who sold it in the first place.

  36. Lang Dough
    November 28, 2012

    Domlec keep on passing from one white man’s hand to another. its like a big game. every time licensing negotiations comes by they keep on passing on Domlec to someone else In less than 15 years Domlec has changed hand 3 times. that’s not good news for for an important national aspect like Domlec

  37. Good-to-go
    November 28, 2012

    From the Americans to the Canadians!! So much for controlling of resources after 34 years of independence.

    • Holiday Island Boy
      November 28, 2012

      But who is listening to Farrakhan’s message.

  38. febreese
    November 28, 2012

    you forgot uwp sold it

  39. Anonymous
    November 28, 2012

    hmmmmmmmmmmmmmmmmmmmmm sigh!!!!!!!!!!!!!!!!!!! :( :twisted:hmmmm ebeh is now de bagean domlect will kill us let me start to light my candle n my lamp whr de kerosine am scared hope is for the good

  40. THAT CAN WAIT
    November 28, 2012

    Dominica should just buy back the company. By the way, why would anyone be interested in DOMLEC when the country in moving towards geothermal energy? Is there something that the seller knows that the buyer doesn’t? :wink:

    • Zenfan Zombie
      November 28, 2012

      HA, ha ha.Eben look it.Where are the so called private sector people in Dominica? Are they afraid to invest their monies in Domlec? Papa Batt.Seriously.Is that one of the reasons why minister Blackmore told us that we were now going to get a small geothermal plant insted of the much talked about geothermal plant that would produce enough power for domestic use with extras for sale to our french neighbours?Is that another move to make sure this company gets an opportunity to finish kill us with high electricity rates?Is that a move similar to the one given to CDC by UWP in th late 1990’s. I am from Mahaut and believe we need to know whats going on.We the people of this country have a right to know how this sale is going to affect our pockets.I’m just a concerned labourite asking silly questions.

    • Beauty
      November 29, 2012

      An your point exactly….DOMLEC is an electricity company which has all the rights to explore in Geothermal Energy…just as they have with Hydro…moving towards Geo doesn’t in any way make DOMLEC less valuable because they are our sole ELECTRICITY provider. Whether they move to Geothermal or not.

  41. >>>>>>>>>>>>>>
    November 28, 2012

    Will we see higher or lower electricity bills? Let’s wait and see.
    So many times we have been fooled in this poor country. Remember we were told Petro Caribe would help us realise lower energy bills? Lower prices at the pump? Instead the government/cabal pumped and is still pumping hardship on us?
    we will see!

    • thinking idiot
      November 29, 2012

      the only reason that you’re being fooled in this country is because most of you refuse to educate yourselves. look at the representatives you have for leaders. Edison, Pestina our Prime Minister? You doubt yourselves too much oh if i do this and i lose everything what going to happen? most of you not educated past high school level. that piece of rubbish college you attended i don’t care if it was Clifton back then it was still rubbish and your degree qualifies you for nothing. And most of you are greedy, you see one person making a decent living driving bus you want to do it too and next thing the whole bloody country driving bus, so all of you will have bus and no passengers to carry. Most of you thrive on backward movement and rejoice as if it’s progress. Waste of time.

      –thinking idiot
      Give me a smart idiot over a stupid genius any day.

      • 1979
        November 29, 2012

        LOLLLLLLLLL woyyyyyyyy I like that one!! i agree with you

    • hmmmm
      November 29, 2012

      I agree. Once upon a time we use to have fridge, toaster, hair dryer, iron, curling iron, kettle, washing machine etc. and every month our bill was around EC125. As soon as the pay as you go come and the AIMEE all you can use is the fridge and have to even put it off sometime because you wondering where the money going to you getting a message saying ….<<>>>> time to credit or else no lights tonight. and that is long before monthend comes and when it does you still brokes. AWAH something a gwan and we payin for it. New company only interested in profits since the AIMEEE come in to play profit making so they want to join the band wagon at expense of the locals. Well bacck to boozie and kerosene lamp. Get gum cause kerosene still expensive.

    • hmmmm
      November 29, 2012

      I agree. Once upon a time we use to have fridge, toaster, hair dryer, iron, curling iron, kettle, washing machine etc. and every month our bill was around EC125. As soon as the pay as you go come and the AIMEE all you can use is the fridge and have to even put it off sometime because you wondering where the money going to you getting a message saying ….<>>> time to credit or else no lights tonight. and that is long before monthend comes and when it does you still brokes. AWAH something a gwan and we payin for it. New company only interested in profits since the AIMEEE come in to play profit making so they want to join the band wagon at expense of the locals. Well bacck to boozie and kerosene lamp. Get gum cause kerosene still expensive.

  42. Rastaman
    November 28, 2012

    i tot DOMLEC was owned by the people of dominica

    • Anonymous
      November 28, 2012

      How could you think so? You forgot UWP sold DOMLEC?

      • Anonymous1
        November 29, 2012

        Who selling it now. UWP sold it for 21M it was then sold again for 12M when UWP was not there who is there now again when it is being sold.and for how much. Stop thinking along the dumb Labour Party line.

    • Anonymous
      November 28, 2012

      Keep on toting rasta! We own nothing.

      • rate me
        November 29, 2012

        UWP selling Domlec has nofing to do with a bajan buying it now, government has the right to correct the wrongs, this administration has been there for almost twelve years so dont blame UWP, they did thier wrongs, government has the mandate to correct it; we should not let our power, further yet, our utilities to be in foreign hands, these services should and must be locallly owned.

  43. Anonymous
    November 28, 2012

    ok so no more Domlec ammmmmmmmm

    • Show me the money
      November 29, 2012

      Am getting so pissed at our leaders right now it’s not funny any more

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