In a decisive move to address the increasing needs of our rapidly growing islands, the Minister for Public Safety and Utilities has directed the Energy and Utilities Commissioner to initiate the consultation period for the Multisector Public Utility Regulatory Reform Policy. This announcement comes at a critical juncture, underscored by FortisTCI's recent application for a 6 percent rate increase and the pressing water shortage issues announced by the Provo Water Company.
The Turks and Caicos Islands have witnessed unprecedented growth, bringing to the fore the urgent need for regulatory reform in our utility sector. The current challenges, including requests for rate increases and water shortages, underscore the limitations of our existing regulatory framework to effectively manage and mitigate such issues. As such, I have asked the Energy and Utilities Commissioner to begin a consultation period, signaling our commitment to overhaul the regulatory system that governs our essential services.
The envisaged regulatory reforms will not only address the concerns highlighted by FortisTCI's applications and the operational challenges faced by Provo Water Company but also lay the groundwork for a sustainable utility infrastructure that can accommodate the future growth of our islands. For more details about the policy, please click here. or scan the QR Code and then follow the link. 