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Grand Bahama Power Company Statement on Butlers

July 2, 2012

The Grand Bahama Power Company (GBPC) has tried diligently to work with Butler Specialty Food in resolving their energy costs and to find a mutually beneficial payment agreement. Unfortunately this has not been successful.

There have been several actions taken to bring about resolution, including retaining an agreed upon independent energy efficiency audit company to assess their use of power and the accuracy of our meters. The results of the audit confirmed that our meters were accurate.

While the action we took is never a desired one in our business, it was necessary considering the circumstances. We remain, as always, committed to an open and productive working relationship with customers and should Butlers chose to reengage negotiations with respect to their delinquent account, we would be happy to continue discussions.