The Minister of Economic Development, Dr the Hon. E. Grant Gibbons JP MP, has announced that The Electricity Act 2016, will come into operation on Friday, 28th October.
The Electricity Act introduces a new regulatory regime that modernizes the regulation of electric power generation, distribution and retail sale for the benefit of the residents of Bermuda.
The Act transfers responsibility for the regulation of electricity from the Energy Commission to the Regulatory Authority of Bermuda and also establishes a framework by which future investments in the production and sale of electricity will be evaluated and regulated.
The new regulatory structure is designed to liberalize the electricity market, protect end users and ensure that opportunities exist for all credible entities willing to participate in the planning and delivery of Bermuda’s energy future and to modernize the electricity sector.
“The bringing into operation of the new Electricity Act is a significant step on the path to achieving these goals – and the new regime represents a major step in the Government’s efforts to modernize Bermuda’s electricity sector.”
The new responsibilities of the Regulatory Authority will include:
Both the National Electricity Sector Policy and the Electricity Act 2016 documents can be found in the Resources Section of the following webpage:
The Regulatory Authority will remain open for business, until the Emergency Measures Organisation (EMO) has issued further guidance. Please visit our website for updates.
The Regulatory Authority is open today, Friday, October 14th, 2016 for business.