were apparently not taking up energy and cost saving schemes.

Earlier this week the president and CEO of Belco Holdings Ltd. Garry Madeiros said only five out of 50 companies seen by its subsidiary Besco had taken up power saving options.

He said Besco, set up to advise on and install energy saving schemes, lost $600,000 last year but was expected to make a profit this year.

But John Harvey, executive director of the Bermuda Hotel Association, said on Wednesday that many of the group's members were offended by Mr. Madeiros' remarks over Besco's performance.

He said the hotel industry was one of Belco's largest customers and many hotels had sought advice on saving energy and continued to engage independent energy saving companies.

"What is ironic here is that Besco has competition, like we all do, and suffers a lot like we all do. Welcome to the club,'' said Mr. Harvey.

"We, on the other hand, would like to be in the enviable monopoly position of Belco which has no competition and lots of profit.

"Mr. Madeiros may have to conclude that Besco is not competitive enough and not rely on the parent company to do its bidding.'' On Tuesday, Mr. Madeiros spoke to Hamilton Rotary Club about Besco (Belco Energy Saving Company), which carried out about 50 audits last year with five companies taking up the package.

"As businesses decry the cost of energy, I ask myself what does one have to do to be a partner in solutions,'' Mr. Madeiros told Rotary.