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The Utilities Regulation and Competition Authority (URCA) is the independent regulator and competition authority for the Electricity Sector (ES) in The Bahamas, pursuant to The Electricity Act, 2024 (EA). The EA establishes that the main goal of the electricity sector policy is the creation of a regime for the supply of safe, least-cost, reliable, and environmentally sustainable electricity throughout The Bahamas. URCA considers a clear and transparent licensing system, including exemptions where appropriate, is a necessary precondition for the attainment of this goal. Entities who conduct generation, transmission, distribution, or supply functions in the electricity sector require a licence issued by URCA
URCA determines the conditions contained in the licences, and as part of the determination process, URCA consults with persons who have a sufficient interest in the subject matter. In addition to transparency, this aids in ensuring URCA’s regulatory documents and actions are fit for purpose. URCA has established and issued licenses in the sector, including Public Electricity Supplier Licenses to the Bahamas Power and Light and Grand Bahama Power Company. A full listing of the types of licenses and licence holders is available on URCA’s website at www.urcabahamas.bs. As the sector has matured it has become necessary to develop new licence types. In this case, URCA has developed a System Operator Licence. URCA published a consultation document (ES 06/2024), on 02 August 2024, which included a draft of the Electricity System Operator Licence. The purpose of that consultation was to provide some context concerning its issuance, and receive feedback on the contents of the licence, including how it may be improved. The consultation closed on 02 September 2022. No comments were received. This Statement of Results and Final Decision discusses matters germane to the licence before providing URCA’s conclusion and the next steps.
URCA-ES-08-2024-Electricity-System-Operator-Licence-SoR-and-FD.pdf