Press Release: Statement of Results and Final Decision (SoR) Cost Effectiveness Tariff Policy on RES
NASSAU, THE BAHAMAS (18 March 2022): The Utilities Regulation and Competition Authority (“URCA”) issued its Statement of Results and Final Decision (SoR) in response to its stakeholder Consultation on Proposed Policy Options on Cost-Effectiveness Tariff for Renewable Energy Self-Generation Projects (ES 11/2021) published in October 2021.
The ‘Consultation Document’ sought feedback on URCA’s plan to complete a cost-based pricing study to ascertain the pricing policy options for Renewable Energy (RE) exchange to the BPL electricity network. This allows the regulator to adequately assess fair pricing for the exchange of Renewable Energy (RE), particularly for the Renewable Energy Self Generation (RESG) framework and the Small Scale Renewable Generation (SSRG) program which are critical to meeting the mandate of both the Electricity Sector and the National Energy policies.
In its request to the industry and the public, URCA proposed key questions related to the methodological framework, tariff principles, guidelines and procedures for establishing a cost-effectiveness pricing policy for the existing RESG and SSRG programs.
In URCA’s Statement of Results and Final Decision, it provides feedback to the written respondents to its ‘Consultation Document’ and shares its decision on the policy options for RE tariff rate-setting, establishes the methodology for calculating cost-based rates and determines the data collection approach and cost-effectiveness analysis of the appropriate tariff rates.
The Utilities Regulation and Competition Authority’s (“URCA”) Statement of Results and Final Decision (SoR) is available on URCA’s website (www.urcabahamas.bs).
A copy of the document can be downloaded at www.urcabahamas.bs.
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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
