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A National Energy Corporation would cost the government less than $500,000 a year to operate, it was claimed yesterday.

Minister of Trade and Industry Leslie Miller made the announcement while he was a guest on a daytime radio talk show. A long time advocate of the energy corporation, Minister Miller said it could save The Bahamas millions by cutting out the middleman.

"What it will cost to run the [National Energy Corporation] is less than a half a million dollars a year [and] your looking at a staff of no more than eight persons," said Minister Miller.

He insisted that the corporation, if established, would assure that Bahamians received reasonable gas prices.

"First of all [it] would negotiate through PetroCaribe, to get the best possible price," he said. "The Bahamas will get the best price that Venezuela is prepared to give to anyone on the finished product."

Via the Nassau Guardian