Log In

Reset Password
BERMUDA | RSS PODCAST

House: opening power sector to competition

Legislation opening up the Island's power generation sector to competition has been tabled in the House of Assembly.

The Electricity Bill 2015 will also provide for a new regulatory framework to oversee the Island's electricity production and distribution.

It will transfer control from the Energy Commission to the Regulatory Authority. Using an integrated resource plan, electricity planning will no longer be the domain of the utility company alone, according to Grant Gibbons, the Minister of Economic Development.

The new framework categorises the electricity sector into three sub-sectors: transmission and distribution, generation, and self-supply.

Belco, the present incumbent utility, will hold two licences — one for transmission and distribution, which will be the only licence of its kind, and one for bulk or large-scale generation, which will likely be “one of several licences of its kind”, Dr Gibbons said, adding: “Simply stated, the Bill opens up the generation sector to competition.”

Dr Gibbons said the plan would require the utility to procure the least costly, most reliable, most sustainable sources of electricity.

“Bermuda will have a more diverse energy portfolio as we move into the future,” he said. “Electricity planning will no longer be the domain of the utility alone, but will be open to public input and ultimately owned by the Regulatory Authority.

“This process is leading edge, and used in parts of Canada, the United States and Europe, and provides a transparent means by which policy is implemented.”

New regulatory framework: Grant Gibbons, the Minister of Economic Development (File photograph by Akil Simmons)

You must be Registered or to post comment or to vote.

Published December 16, 2015 at 11:02 am (Updated December 17, 2015 at 12:19 am)

House: opening power sector to competition

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon