TCI News
FortisTCI rate increase application goes to the public for consultation
#Providenciales, June 21, 2019 – #TurksandCaicos – A determination on whether or not FortisTCI will get that rate increase for which the company has applied is inching closer to completion; now, the public is being asked to weigh in on the controversial application.
“As part of the process to inquire into the reasonableness of the proposed variation of the prescribed tariff of rates by FortisTCI Limited and Turks and Caicos Utilities Limited the general public is now informed that the inquiry is open to the public and that any interested person may attend the inquiry and may make written or oral representations to the person holding the inquiry, pursuant to section 39(5) of the Electricity Ordinance.”
The mission of Governor appointed, J Paul Morgan P.E., CEng. Is to conduct an inquiry into the reasonableness of the FortisTCI and TCU Ltd. Rate Variation Application.
FortisTCI, since July 2018 informed the general public that it made a rate increase request; looking to get approval for an average of 6.8% more on electricity bills.
That request was declined by the Governor in August of 2018.
Morgan, who has over 40 years of experience in utilities, engineering, utility regulation, management and consulting, was appointed last month.
The public is invited to given written and oral submissions.
A TCIG media released advised: “If you wish to make a written presentation, it should be submitted on or before 24th June 2019. All written submissions must be emailed to the following addresses jeffreypaulmorgan@gmail.com or jason.abraham@avisobviconsulting.com with the caption “Submission to the FortisTCI Proposed Rate Variation Inquiry.”
However, to speak to Mr. Morgan in person, there was this instruction: “If you wish to make an oral presentation at the inquiry your intention should be communicated to Mr J Paul Morgan, and should include a reference to your specific concern as it relates to the reasonableness of the proposed variation of the prescribed rates of tariff by FortisTCI Limited and Turks and Caicos Utilities Limited, on or before 26th June 2019.
Please note that oral presentations at the inquiry shall be limited to 15 minutes per person. The public is also informed that the inquiry which is opened to the public is scheduled [to commence on the 2nd and 3rd July 2019, at the Gustavus Lightbourne Sport Complex, Providenciales, from 4pm to 8pm.”
FortisTCI in multiple official reports and public meetings explained that the request for the rate increase was largely as a result of the catastrophic impact of Hurricanes Irma and Maria on electricity infrastructure nationwide.
“The rate variation application seeks to restore the company to a stable financial position following the impact of the 2017 hurricanes. The financial impact on FortisTCI of Hurricanes Irma and Maria is estimated at $42 million.”
In considering the rate variation application, the Government explains that consumers are classed in two categories: Residential and All Others. The rate increase request is between 5.5 percent and 5.7 percent for residential customers and for All Others, the increase is requested at 7.9 percent.
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Providenciales, Turks and Caicos Islands – May 14th, 2024 – The Turks and Caicos Islands Government and Molo Hotel Group reached a pivotal juncture on Monday, May 13th, 2024, with the ceremonial signing of a development agreement at the Premier’s Office on Providenciales. The agreement, which received official Cabinet approval on March 13th, 2024, signifies a steadfast commitment to advancing the economic landscape of the Turks and Caicos Islands.
Molo Hotel Group is a family-owned business, renowned for its distinguished portfolio of high-quality hotels worldwide. The
development initiative encompasses the construction of three distinct IHG branded hotels: InterContinental Turks and Caicos, Kimpton Turks and Caicos and Hotel Indigo Turks and Caicos. Scheduled for completion by 2027, each resort boasts a distinctive design from luxury to laidback sophistication spanning across the shores of Grace Bay Beach.
Kimpton Turks and Caicos – an epitome of luxury lifestyle living, will feature 192 guest rooms including three outdoor pools, a luxury spa and a fitness center. Additionally, seven dining options ranging from a beachfront restaurant to a rooftop bar.
Adjacent to the Kimpton, InterContinental Turks and Caicos will offer 59 classic luxury suites with panoramic ocean views. Mirroring its counterpart, this resort will offer an array of dining options and upscale facilities.
Steps away from the Intercontinental and Kimpton resorts, Hotel Indigo Turks and Caicos will embrace a sense of community and contemporary elegance, offering 56 bedrooms. The resort will feature an onsite restaurant, lobby bar, outdoor pool, and fitness room.
Beyond the realm of hospitality, this development agreement underscores the government’s commitment to fostering economic growth and enhancing employment opportunities in the Turks and Caicos Islands. Molo is partnering with the Turks and Caicos Islands Community College (TCICC) to actively promote hospitality as a career choice and support in developing training programs, career fairs, seminars, workshops, and events to raise awareness about hospitality careers. Molo has committed to provide employment and apprentice opportunities to TCICC students and provide mentoring and practical on property training to students.
The signing event was graced by Hon. Charles Washington Missick, Premier of the Turks and Caicos Islands, Hon. Jamell Robinson, Deputy Premier, Hon. Kyle Knowles, Minister of Public Safety and Utilities, Hon. Rachel Taylor, Minister of Education, Youth, Sports and Culture, Łukasz and Marcin Slominski, Owners of Molo, Ross Morrow, Managing Director Molo, Arik Kono, Vice President Upscale Development for IHG, Dr. Candice Williams, President and CEO of the Turks and Caicos Islands Community College, Angela Musgrove, InvestTCI CEO, Dr. Barbara Ambrister, Chairperson of the Turks and Caicos Islands Community College, Dr. Delores Stapleton- Harris, Vice President of Academic, Vocational and Student Affairs for the Turks and Caicos Islands Community College, Mr. Kevin Baxter, Dean of Technical Vocational Education Training (TVET) and Sheryl McLaughlin, InvestTCI Investment Services Executive.
Commenting on the development agreement, Premier, Hon. Misick, stated “The Memorandum of Understanding (MOU) signing of
IHG/Molo Hotels is a significant step towards a sustainable future for hospitality in the Turks and Caicos Islands. Three hotels, Kimpton, Intercontinental, and Hotel Indigo, will be introduced, enhancing our tourism product and creating employment opportunities.”
He further added, “Partnerships with the Turks and Caicos Islands Community College and Turks and Caicos Islands Sports Commission are underway, demonstrating the Government’s commitment to developing human capital and elevating tourism offerings. This project will bring economic growth, embrace local talent, and enrich our economy.”
Additionally, Mrs. Angela Musgrove, CEO of Invest Turks and Caicos Islands, emphasized “This collaboration confirms our commitment to fostering economic growth and prosperity within our country. We have worked closely with Molo Hotel Group, and we are confident that this transformative project will further position the Turks and Caicos Islands as a premier destination for travel and investment. Much to our delight, it will also provide opportunities for engagement with our Community College and small business community.”
The Government of the Turks and Caicos Islands, operating through its primary Investment Promotion
Agency, Invest Turks and Caicos Islands, remains committed to attracting and facilitating Foreign Direct Investments to the country by providing a comprehensive suite of services. Through strategic initiatives and targeted promotion, the agency catalyzes sustainable development, driving innovation and small business opportunities across various sectors of the economy.
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