Survey to assess Island’s telecoms market
The Island's telecommunications sector is to be put under scrutiny in a survey that aims to discover if the market has become more or less competitive during the last few years.
It is the second market review of the industry. The first was conducted shortly after the Regulatory Authority of Bermuda (RAB) was set up in 2013. The Authority is the watchdog organisation that oversees the sector.
Shortly after the RAB was created it oversaw the arrival of integrated licences that allowed providers to offer multiple telecoms services, rather than be restricted to one.
That change resulted in a number of consolidations among telecommunication service providers and the introduction of bundled package deals for consumers.
The survey will “determine whether the rules safeguarding against abuse of significant market power currently in place remain effective and relevant”.
It is anticipated a report will be published in the second quarter of the 2016-2017 financial year.
In a statement, the RAB said it might modify existing or develop new safeguards to address market conditions.
“The recent shift in the market, precipitated primarily by the round of mergers and acquisitions makes this review timely and relevant,” said Kyle Masters, interim chief executive at the RAB.
“The market review will be an opportunity for the ICOL (Integrated Communications Operator Licence) holders and the regulator to reflect on the state of the market three years after liberalisation and answer the key question: Is the market more or less competitive as a result of liberalisation?”
Deloitte (Bermuda) has been selected to assist with the market review.