Guideline for the Electricity Sector on the assessment of Fine for Breaches
NASSAU, THE BAHAMAS (22 August 2022): The Utilities Regulation and Competition Authority (“URCA”), as the electricity sector regulator, considers the development of a regulatory framework 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 licence 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.
Therefore, URCA is moving to implement guidelines that give greater clarity, transparency, and consistency to the methodology and factors it will consider in determining appropriate fines that are proportionate to the breaches.
As a part of its regulatory process, URCA is consulting with stakeholders as a precursor to establishing the guidelines of fines for breaches. The regulator asks that interested parties review the document and provide feedback to URCA’s Chief Executive Officer by any of the means below:
• by hand, to URCA’s office at UBS Annex Building, East Bay Street, Nassau; or
• by mail to P.O. Box N-4860, Nassau, Bahamas; or
• by fax, to (242) 393-0153; or
• by email, to info@urcabahamas.bs.
The consultation document on the Guidelines for the Electricity Sector on the Assessment of Fines for Breaches is available on URCA’s website (www.urcabahamas.bs).
You can view the document through the link below.
Guideline for the Electricity Sector on the assessment of Fine for Breaches – URCA Bahamas
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Media Contact:
Arnette Ingraham
Corporate and Consumer Relations Manager
Utilities Regulation & Competition Authority
Telephone: (242) 396-5242
Email: aingraham@urcabahamas.bs
