Bermuda’s power firms are to come under the control of the Regulatory Authority in an attempt to boost competition and promote alternative energy sources.

The change was signalled in the Throne Speech, delivered by Governor George Fergusson yesterday. He said: “The Government, in keeping with its strategic goals to ensure a secure supply of energy for the Island and to reduce energy costs, fossil fuel dependency and greenhouse gas emissions, will use the year ahead to achieve regulatory reform and promote alternative energy use.”

Mr Fergusson said a new Energy Act would transfer regulation from the Ministry of Education and Economic Development and the Energy Commission to the Regulatory Authority.

“This will provide greater clarity and scope to the regulatory decision-making process, an increased level of competition between power producers, equitable interconnection in the grid and the development of a robust licensing regime,” he said, adding that Government will also this year call for proposals to turn the unused airport “finger” into a massive solar panel farm to provide renewable energy for Bermuda.

He added that an Energy Summit, to be held next week, would discuss Bermuda’s “energy future, the reform of the energy regulatory environment, the diversification of Bermuda’s energy mix, including the introduction of liquefied natural gas and measures to address energy conservation and efficiency”.