FortisTCI wants independent inquiry for stalled rate increase application

#Providenciales, Turks and Caicos – Wednesday October 3, 2018 – FortisTCI, the country’s electricity provider, is calling on the Governor of the territory to appoint an independent inquiry to review their rate increase application.  The application has stalled at the Cabinet level following a decision not to move the application forward until there is a Cost of Service Study.

The study was announced as necessary by Premier Sharlene Robinson at the PDM Administration’s Town Hall meeting in Provo on September 13.  FortisTCI wants to increase electricity rates by 6.8 percent, citing the cost of the double hit of hurricanes Irma and Maria in September 2017 as de-stablising to the fiscal health of the company. 

FortisTCI reported to media in July that the restoration and reconstruction of electricity systems across the archipelago was a bill of $32 million.  A return to financial health is what the power company is aiming for, but the Premier and her team are not prepared to rush a hike if justified.  The study, said Premier Sharlene Robinson, will look historically at cost of supplying and making electricity in the Turks and Caicos Islands.

The independent inquiry, if agreed to by the Governor, Dr. John Freeman would be overseen by His Excellency and the mutually agreed upon person or persons appointed to conduct the review.

NOTE:  Read more in a news article by Olivia Rose in the Turks and Caicos Weekly News latest publication.