FortisTCI and the Energy and Utilities Department (EUD) have completed a series of meetings on a draft policy to establish a Multisector Public Utility Regulatory Agency in the Turks and Caicos Islands.
The in-person and virtual meetings took place on June 5-6 and June 10, allowing both parties to discuss the provisions of the draft policy, which aims to establish a regulatory commission to govern the energy sector, telecommunications, water, sewerage, and related designated services. The Turks and Caicos Islands government announced the draft policy in March, along with a consultation period with utility companies and the public. Following the initial consultations, it is expected that a Cabinet Report will be developed for the adoption of a final policy and, after that, create a new Multisector Regulatory Commission Ordinance.
The discussions have helped to clarify both parties’ positions on several aspects of the draft policy paper, and FortisTCI looks forward to continuing dialogue on this and other regulatory matters that will be impacted as a result.
With a rapidly transforming energy landscape, FortisTCI has recognized for many years that a new regulatory framework is necessary to ensure the balanced and equitable integration of alternative energy sources while providing least-cost energy and delivering reliable service to drive economic development. The Company believes and has consistently advocated for a modern and well-designed regulatory framework.
Having completed the initial consultation process on the proposed Multisector Public Utility Regulatory Reform Agency, FortisTCI will provide a written submission of its position on the policy by June 28. The Company is focused on helping to achieve balanced energy sector regulations that benefit all stakeholders.
