The Utilities Regulation and Competition Authority (URCA) has today, September 4, 2012, issued for public consultation, its review of Cable Bahamas Limited’s (CBL) application for a permanent price increase for SuperBasic [REVTV Prime] cable television (TV) services.
CBL is seeking a 27% increase in the monthly charge, which would mean a per month price increase of $8 for residential consumers and $13.50 for the commercial customer. The current monthly rates of $30 and $50 respectively have not changed since CBL introduced the service in 1995. URCA has planned a public consultation on the application which will include community meetings in New Providence, Abaco, Exuma, Grand Bahama and Long Island; radio and television appearances, in national and local coverage.
SuperBasic [REVTV Prime] cable television service is a price regulated service. CBL must therefore first obtain URCA’s written approval before it can make any price changes to the basic cable TV package. The consultative document outlines URCA’s review of CBL’s application.
On the basis of the specific financial information provided to URCA by CBL and supporting information from other relevant markets, URCA finds that the requested price increase appears reasonable. The application however raises significant concerns regarding the affordability of necessary television services since there is no lower-priced (more affordable) package.
For a complete copy of the press release please refer to the below linked document. This consultation will be open to public comment until October 19, 2012.