URCA established as regulatory body for the Electricity Sector (ES) in The Bahamas
By The Utilities Regulation and Competition Authority (URCA)
May 25, 2016 - 11:10:57 AM
Wednesday May 25th, 2016 - The Utilities Regulation and Competition Authority (URCA) advises
that effective January 28, 2016, the Electricity Act, 2015 (EA), the
Electricity Rate Reduction Bond Act, 2015 and the URCA (Amendment) Act,
2015 (all of which were passed on December 30, 2015) came into effect,
establishing URCA as the regulatory body with responsibility for the
Electricity Sector (ES) in The Bahamas.
The establishment of URCA as the regulator of this important sector
of the economy means that URCA will be assuming responsibility for
setting up and implementing a regulatory framework that ensures the
sector operates in an effective and efficient manner and in the best
interests of all persons in The Bahamas.
It also means that URCA will become the agency responsible for ensuring
that consumers receive better quality of service from their electricity
supplier, at prices that are fair. Therefore, URCA will aim to ensure
that consumers increasingly benefit from efficient operations by
suppliers.
Wednesday May 25th, 2016 - The Utilities Regulation and Competition Authority (URCA) advises
that effective January 28, 2016, the Electricity Act, 2015 (EA), the
Electricity Rate Reduction Bond Act, 2015 and the URCA (Amendment) Act,
2015 (all of which were passed on December 30, 2015) came into effect,
establishing URCA as the regulatory body with responsibility for the
Electricity Sector (ES) in The Bahamas.
