Dana Malcolm 
Staff Writer 

The Multi-sector Utility Regulator Policy developed by the government is going to make utilities affordable and reliable for residents in the Turks and Caicos, at least that’s what the TCIG hopes.

Currently, in the consultation phase, when this policy is signed into law it will allow for the creation of a unified Regulatory Commission that oversees water and sewage, telecommunications, fuel, and electricity and makes sure that the monopolies or semi-monopolies that provide these services are doing so in the best interest of the residents who pay for their services.

The draft copy of the Policy lays out the specific objectives which are listed as:

• Affordability which is measured by processes and outcomes during rate hearings.
• Reliability which is measured by regulatory decisions enabling minimal service interruptions and timely service deliveries such as interconnections.
• Economic Competitiveness which is measured by decisions on rates and service delivery compared to relevant jurisdictions.
• Innovation which is measured by regulatory decisions enabling access to new technologies and business models, and finally
•  Environmental Sustainability which is measured by regulatory decisions that advance/support regulatory service providers in meeting government goals on climate change and other aspects of sustainability.

All of this is geared toward value for money and better service for TC Residents but how will the Regulatory Commission operate to achieve the aims?

Firstly it won’t be directly controlled by the government. The document explains that TCIG alone will have the power to set the legislation that regulates the sector. The Commission is then bound to follow those rules and all its decisions must be based on law. However, The Commission will be independent of the Government in the operation of its duties and responsibilities.

Some of those legally established duties include: managing utility rates and tariffs; monitoring and compliance; granting and renewing licenses and Research and Development to advance the use of new technologies.

Another requirement of the body will be transparency, to ensure that both customers and investors trust and can substantiate the decisions being made.

The Multi-sector Agency will it be able to carry out inspections if providers fail to provide necessary information, and it has the authority to ‘collaborate with academic institutions, research organizations, and industry players to support innovation’.

Importantly the agency is to be charged with ensuring decisions advance the public interest for today and the future.

Additionally, according to the draft policy, it is to have a board made up of experts in utilities who must be ‘persons of integrity’ appointed by the government. With no need for a team of experts 24/7 The Commission will have a Chief Executive Officer who will manage a small team of regulatory officers and staff which will be supported by experts on an as-
needed basis.

The government is now undertaking consultation to get thoughts and concerns from all stakeholders including residents regarding the policy and eventual setup of the Agency. The need for the Regulatory body is crucial according to Kyle Knowles, Minister of Public Safety and Utilities.

“The Turks and Caicos Islands have witnessed unprecedented growth, bringing to the fore the urgent need for regulatory reform in our utility sector. The current challenges, including requests for rate increases and water shortages, underscore the limitations of our existing regulatory framework to effectively manage and mitigate such issues,” he said

The consultation will run until May 24, 2024.