WSC conservation efforts lead to less water purchases
The success of the water loss mitigation program undertaken by the Water and Sewerage Corporation of The Bahamas (WSC) has led to a sharp decrease in bulk revenues for Consolidated Water Co. Ltd., the Cayman-based company that develops and operates seawater desalination plants and water distribution systems. In a press release issued ahead of an investor call scheduled for yesterday, Consolidated Water noted that a decrease in bulk revenues of approximately $759,000 was attributable to the company’s Bahamas operations, which generated approximately $2.5 million less in revenues in 2014 than in the previous year. Due to the water-loss mitigation, the company reported a decrease in the volume of water sold to the corporation. That decrease was partially offset by an increase in revenues from the Cayman bulk water operations. The company noted that in 2013, the WSC purchased water volumes from Consolidated Water’s Blue Hills plant that were “significantly higher” than the minimum amounts it was required to purchase under the water supply agreement for the plant. “However, as a result of water conservation and loss mitigation efforts implemented since 2012, the WSC has reduced the amount of water lost by its distribution system and consequently in 2014 decreased the volume of water it purchased from the Blue Hills plant. However, the WSC continued to purchase more than the minimum amount stipulated in its contract with the company,” the release said. Consolidated Water develops and operates seawater desalination plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent. The company operates water production and/or distribution facilities in the Cayman Islands, Belize, the British Virgin Islands, The Bahamas, and Bali, Indonesia.