For Immediate Release
The Utilities Regulation and Competition Authority (URCA), has published for public consultation, the draft Procurement Regulations for Electricity Sector Licensees, 2020, ES 05/2020. The proposed regulations are designed to establish the framework for procurement by licensees of those resources and assets necessary to the delivery of electricity services by licensees. This includes generation resources, transmission, distribution, storage and supply assets and services.
The regulations apply to procurement by licensees, except independent power producers and licensees that are not connected to the grid. Licensees primarily incur costs through their procurement activities, the regulations address this as URCA seeks to ensure that licensees are at all times compliant with their economic purchasing obligations under their respective licences.
URCA is the independent regulator and competition authority for the electricity sector in The Bahamas. The primary role of URCA is the regulation of the sector in accordance with the goals, objectives and principles underpinning the national energy and electricity sector policies. Fundamental to these are the encouragement of competition and the provision of least cost electricity supplies to consumers, which means charges must be reasonable and reflect efficiently incurred costs
The proposed measures are intended to be efficient and proportionate to their purpose, fair, and non-discriminatory. As such, URCA is seeking feedback from stakeholders on all aspects of the draft regulations. In compliance with the requirements of the Electricity Act 2015 (“EA”), URCA has a duty to consult on such matters. This document sets out, for public consultation, the draft procurement regulations for licensees within the electricity sector. The consultation will close at 5:00 p.m. on 05 May 2020.
All interested parties are invited to review the consultation document for full details which can be found here on URCA’s website.
Media contact:
Mavis Johnson Collie
Corporate & Consumer Relations Manager
Utilities Regulation & Competition Authority
Frederick House, Frederick Street
P. O. Box N-4860
Tel. (242) 393-0234 (Main)
Tel. (242) 396-5201 (Direct)
Facsimile: (242) 393-0153
Web: www.urcabahamas.bs