The Utilities Regulation and Competition Authority (“URCA”) issues this Statement of Results and Final Decision on its “Consultation on: Regulatory Fees for The Electricity Sector in The Bahamas – ES 05/2016” document (“the Consultation Document”) in exercise of its powers under section 38(3)(c) of the Electricity Act, 2015 (“EA”). URCA also has published its finalized text of the Regulatory Fees for the Electricity Sector (“ES”) in The Bahamas (ES 03/2017) as a separate document concurrently with the publication of this Statement of Results and Final Decision (ES 03/2017 is also attached as Appendix A to this document).
On December 23, 2016 URCA published the Consultation Document and established January 27, 2017 as the closing date for the submission of responses. As stated in the Consultation Document, the EA grants URCA the powers to issue regulatory and other measures to regulate the ES. URCA has the regulatory remit to determine and assess fees on licensed entities to cover the costs of regulating of the ES.
The Consultation Document was specific to the fees URCA will impose on licensed entities to cover the costs allocable to the regulation of the ES. URCA did not pose any specific questions under this Consultation Document. URCA, however, invited general submissions and comments to its approach to determining fees for the ES. URCA particularly encouraged submissions and comments on the terms and conditions contained in the Consultation Document.
URCA received two written responses from Bahamas Power and Light Limited (BPL) and Mr. Vincent Wallace Whitfield. URCA thanks the two submitters for their comments and observations in response to the Consultation Document.
This Statement of Results and Final Decision now sets out URCA’s reasons and reasoning for its determination of fees it will impose on licensed entities in the ES.