The Utilities Regulation and Competition Authority (URCA) has released an addendum to its 2024 Annual Plan, reflecting necessary adjustments and expanded responsibilities in compliance with the newly enacted Electricity Act 2024 (EA 2024) and Natural Gas Act 2024 (NGA 2024). As mandated by Section 78 of the EA 2024 and Section 121(2) of the NGA 2024, the addendum ensures that URCA fully complies with its expanded regulatory duties, particularly in the electricity and natural gas sectors. The addendum aligns URCA's strategic objectives with the new regulatory framework, emphasizing enhanced oversight, energy efficiency, renewable energy integration, and consumer protection. Under the…
The Utilities Regulation and Competition Authority (URCA) today launched its public consultation process for the review and modification of existing licences in the Electronic Communications Sector (ECS). This review aims to ensure that the regulatory framework remains robust, equitable, and aligned with the evolving needs of the industry and the Bahamian public. This comprehensive review will cover several key types of licences. URCA proposes that all existing Individual Operating Licences (IOLs), granted to operators providing network and carriage services, be revised to ensure consistency across licensees. For those IOLs expiring in 2024, they will be renewed for the standard 15-year…
