NASSAU, THE BAHAMAS – 26 August 2026 – The Utilities Regulation and Competition Authority (URCA) has approved the proposed change in control of Baker’s Bay Utility Ltd. (BBUL) in the Electricity Sector, subject to specified conditions.

The transaction will result in members of Baker’s Bay Golf and Ocean Club, through Baker’s Bay Club Limited, acquiring 100% control of Baker’s Bay Associates, LLC and, consequently, BBUL.

As part of its review under the Electricity Act, 2024, URCA assessed the potential impact of the transaction on competition and the public interest. URCA concluded that the change in control is not likely to substantially lessen competition in The Bahamas and is not contrary to the public interest.

URCA’s approval requires that the transaction be completed in accordance with the structure and terms presented to URCA. BBUL must also notify URCA and provide copies of the relevant agreements within seven calendar days of completion.

The full Adjudication – In the Matter of a Request for a Change in Control of Baker’s Bay Utility Ltd. in the Electricity Sector (ES 25/2026) is available here.