Freeport, Bahamas --- (METERING.COM) --- October 17, 2011 - An independent audit and verification of the Grand Bahama Power Company Limited’s (GBPC) meter reading and billing operations is set to start within the next few days.

The audit is in response to concerns regarding the accuracy of electricity bills in recent months and will be undertaken by Price Waterhouse Coopers.

In a statement the Grand Bahama Port Authority, Limited (GBPA), which has commissioned the audit, said that it is scheduled for completion within six weeks and the findings will be made available to the public.

In July 2009 GBPC launched its own island-wide meter audit. To date this has covered all industrial and commercial customers and almost two-thirds of residential customers. Of more than 11,500 meters audited, 1,227 accounts of theft and 16 cases of under billing as well as five cases of overbilling have been found.

In a statement GBPC said that as a result of the audit, the company was confident about the security and accuracy of its meters, and will continue its ongoing meter audit program.

The company also said that based on a recent cost comparison of electric utilities in the Caribbean, its electricity prices are at the median.