Market openness and vigorous competition are crucial as they create incentives for firms to be more efficient and innovative.
When firms compete, they strive to offer better products and services at lower prices which ultimately benefits consumers and businesses by providing more choices, improved quality, and cost-effective options.
This is particularly true for the Electronic Communications Sector (ECS) and Electricity Sector (ES) as they underpin all other areas of the economy of The Bahamas. In this context, URCA is publishing Competition Guidelines – URCA 05/2024.
The revised guidelines address URCA’s expanded scope of regulatory oversight.
Originally, guidelines were prepared for the ECS.
The updated guidelines now include the ES.
While there are differences in the products and services offered in the sectors, there are parallels in how these matters are handled commercially and the legislation governing each sector.
Anticompetitive agreements, abuse of a dominant position, and merger control are dealt with in Part XI of the Communications Act (2009), and Parts XI and XII of the Electricity Act (2015).
The document provides guidelines for the investigation of situations where it is believed an entity has entered into an anticompetitive agreement or abused its dominant position in the market.
It also provides guidelines for reviewing mergers, before they occur, to determine if it is likely to reduce competition. This includes how to file a complaint, how to evaluate a complaint, and potential remedies. Frederick House, Frederick Street│P. O. Box N-4860, Nassau, Bahamas│T.242.393.0234 / F. 242.393.0153 /242.393.0237 www.urcabahamas.bs
The document can be found at URCA’s website: www.urcabahamas.bs.
URCA 04/2024 – Statement of Results and Final Decision – Revision of the Competition Guidelines
URCA 05/2024 – Competition Guidelines
Media Contact:
Juan McCartney
Corporate and Consumer Relations Manager
Utilities Regulation and Competition Authority
jmccartney@urcabahamas.bs
1 (242) 396-5242