NASSAU, BAHAMAS — The Utilities Regulation and Competition Authority (URCA) yesterday revealed that it is seeking to undertake an audit of Bahamas Power & Light (BPL), which would independently evaluate the company’s performance status and establish a baseline for its performance going forward.
The utilities regulator also issued a request for proposal (RFP) for an audit of the performance and organizational maturity of BPL.
The regulator claimed that “a baseline study of the company’s performance will allow URCA to have effective regulatory oversights of BPL that will be efficient and proportionate to their purpose and without imposing unnecessary regulatory burden.
“This will include assessing BPL’s performance using financial, operational, and quality of service indicators and comparing BPL’s performance with similar utilities in the Caribbean and around the world. Additionally, the consultancy is also required to conduct a two-day workshop for URCA staff on technical knowledge as it relates to the appropriate regulatory mandate based on the organization’s maturity.”
URCA reminded that the electricity sector is comprised of several vertically integrated companies, not just BPL.
BPL accounts for 83 percent or 535 MW of the total generating capacity (643 MW) on the national grid. The remaining 17 percent of the generating capacity is provided by one other PESL power producer and three Authorised Public Electricity Supplier Licence (APESL) power producers.
BPL, as a subsidiary of the Bahamas Electricity Corporation (BEC), provides power to more than 100,000 customers in New Providence and the Family Islands.