The Utilities Regulation and Competition Authority (URCA) has published its Regulatory Accounts Guidelines for the Electricity Sector, establishing a comprehensive framework for accounting separation by Public Electricity Suppliers.
The guidelines require electricity licensees to maintain separate financial records for each regulated business segment and submit annual regulatory accounts that clearly identify revenues, costs, assets and liabilities associated with their operations. The framework also introduces standard reporting templates, requirements for Accounting and Cost Allocation Manuals (ACAMs), management responsibility statements, auditor reports and compliance certifications.
The guidelines set out uniform principles for allocating direct, indirect and shared costs, documenting transfer pricing arrangements, maintaining audit trails and protecting commercially sensitive information. By establishing consistent regulatory accounting practices, the framework will enable URCA to better assess the cost of providing electricity services, support tariff reviews and promote greater transparency and accountability across the sector.
The Guidelines took effect on 24 June 2026 and form an important part of the implementation of the Electricity Act, 2024 and the modern regulatory framework for The Bahamas’ electricity sector.