URCA Issues Draft Regulatory Framework Documents for the Natural Gas Sector in The Bahamas
The Utilities Regulation and Competition Authority (URCA) has issued a public consultation document and the accompanying draft regulatory framework documents for the Natural Gas Sector (NGS) in The Bahamas.
With the enactment of the Natural Gas Act, 2024 (NGA) on 1 June 2024, The Bahamas has introduced a statutory framework for incorporating natural gas into its energy mix.
The NGA establishes URCA as the independent regulator of the NGS, responsible for ensuring a transparent, non-discriminatory regulatory environment in line with the provisions of the NGA.
As mandated by section 8 of the NGA, URCA is responsible for licensing all natural gas sector activities in The Bahamas.
Additionally, URCA is tasked with issuing regulations and guidelines that promote the development and operation of a safe and reliable natural gas system.
To facilitate this, URCA has developed a comprehensive set of regulatory measures, including licenses, regulations, and codes, which are now open for public consultation.
The proposed licenses aim to authorize and regulate various activities within the natural gas sector.
The proposed regulations are designed to ensure the safe and efficient operation of the natural gas system.
The proposed codes establish standardized practices to ensure safe, efficient, and reliable LNG operations.
URCA invites comments and submissions from members of the public, licensees, and other stakeholders on these proposed regulatory measures. The consultation period is 30 calendar days, ending on 31 August 2024.
Responses should be submitted via email to info@urcabahamas.bs.
Frederick House, Frederick Street│P. O. Box N-4860, Nassau, Bahamas│T.242.396-5200 www.urcabahamas.bs
For more information and to access the consultation documents, please visit www.urcabahamas.bs.
The specific public consultation page can be found here.
Media Contact:
Juan McCartney
Corporate and Consumer Relations Manager
Utilities Regulation and Competition Authority
jmccartney@urcabahamas.bs
1 (242) 396-5242
