ES 05/2022 Statement of Results and Final Decision: Guidelines for the Electricity Sector on the Assessment of Fines for Breaches
The Utilities Regulation and Competition Authority (“URCA”), as the electricity sector regulator, considers the development of a regulatory frameworks governing the sector to be paramount to meeting its statutory obligations as defined in both the Electricity Act, 2015 (EA) and the URCA Act, 2009.
Through both Acts, URCA is empowered to impose a regulatory penalty or fine on a licensee who breaches a provision of the EA, a license condition, regulatory and or other measures. The imposition of financial penalties for breaches is also a means to effectively ensure compliance with sector regulations and established standards.
URCA undertook the consultation process to bring clarity and promote consistency with respect to how URCA will exercise its power to impose a fine on a licensee who breaches a provision of the EA, a license condition, regulatory and or other measures.
The Utilities Regulation and Competition Authority (“URCA”) issues this Statement of Results and Final Decision (“SoR”) further to its Consultation Document on Guidelines for the Electricity Sector on the Assessment of Fines for Breaches, ES 02/2022, published on the 22 August 2022. URCA also hereby issues the “Guidelines for The Electricity Sector on The Assessment for Fines for Breaches”, ES 04/2022.
