A finalised electricity sector blueprint was strengthened through public consultation, with clear and consistent input from stakeholders, the Government said.

Feedback from residents, industry stakeholders, the Regulatory Authority and the Energy Policy Steering Committee was embedded in the National Electricity Sector Policy 2026, a spokeswoman reported.

The new policy replaces the 2015 version and outlines the Government’s energy approach until 2045.

A consultation period for the NESP closed on May 21 and the spokeswoman said that throughout the consultation process, two priorities — affordability and fair sharing of energy costs — emerged repeatedly.

“Keeping electricity affordable and ensuring that the benefits of Bermuda's energy transition are shared fairly across current and future generations … the final policy reflects those priorities,” she said.

She noted that a stronger focus on affordability was one of “the most significant changes” to the blueprint.

“The policy uses the 2025 average electricity rate as a benchmark against which future electricity costs can be measured, helping to ensure that the transition to cleaner energy delivers value for consumers,” she said.

The spokeswoman said the policy also expanded opportunities for more people to participate in renewable energy.

In addition, the spokeswoman said the policy sought to ensure that electricity pricing remained fair for all customers.

The policy supports measures that align prices with the actual cost of providing service, while examining how customers who generate some of their own electricity interact with the wider grid, she added.

It shows that the Government planned to establish a comprehensive framework for renewable energy market oversight.

The plan will be anchored in collaboration between the Ministry of Home Affairs, the Department of Workforce Development, the National Certification and Apprenticeship Board and the Department of Planning.

It said the co-ordination would guarantee that Bermuda’s renewable energy sector was regulated effectively.

The blueprint stated that the NESP 2015 set a target of 38 per cent renewable electricity generation by 2035.

A subsequent Integrated Resource Plan — which was approved by the RA in 2019 — raised that ambition to 85 per cent renewables by 2035.

It said that since then, the rapid growth of rooftop solar, rising fuel costs and a shrinking base of grid-purchased electricity had placed sustained upward pressure on tariffs, with the burden most felt by customers who could not install their own solar systems.

“The NESP 2026 responds to these lessons,” the document stated.

Although the IRP ended up settling on an 85 per cent renewable generation by 2040 — extending the percentage target by five years — the blueprint will examine all the potential scenarios from a “technology agnostic, economic and environmental standpoint with the main goal of stabilising electricity prices”.

Under the policy, Bermuda will follow the example of Hawaii, which fixes its renewable portfolio standard in statute with checkpoints at 2030, 2040 and 2045.

In that process, the utility develops the pathway between checkpoints through an integrated grid planning process supervised by the island’s Public Utilities Commission.

In Bermuda’s case, the subject minister sets the destination and the requisite checkpoints, while the RA builds the pathway through the IRP.

The spokeswoman said that in the years ahead, renewable energy projects would be advanced where they were financially viable and could be successfully delivered, with regular reviews ensuring that progress remained aligned with affordability and reliability objectives.