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Fuel prices are on the rise again after near 40% decline earlier this year

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#TurksandCaicos, December 5, 2023 – FortisTCI is closely monitoring the impact of external shocks on market fuel prices, which continue to cause increases in the fuel factor rate and result in higher electricity bills. Higher global demand for fuel along with production cuts by leading oil producing countries have caused an increase in market prices, according to J.P. Morgan. While it is difficult to forecast far in advance precisely how prices will change, new projections from our fuel supplier indicate that fuel prices will continue to rise over the next several weeks. As a result, the fuel factor rate on November’s electricity bills increased by up to 10% across some service territories.

The fuel factor rate on customer electricity bills changes with average market fuel prices. Prior to this upswing in pricesfuel factor rates were more stable this year, falling nearly 40% across most service territories between February and September. This downward trend was contrasted by high energy demand during the summer as outside temperatures reached record-breaking levels.

The fuel factor rate on electricity bills is charged for every kilowatt hour of electricity used. When the fuel factor rate increases and a customer’s energy consumption increases, their electricity bill will be higher. Similarly, if both decrease, their electricity bill will be lower. If one increases but the other decreases, this will have a more balancing effect. If the customer consumes the same kilowatt hours of electricity, but their electricity bill has increased, the fuel factor rate has likely risen.

FortisTCI understands the challenges associated with higher electricity bills and is committed to diversifying how energy is produced and supporting customers during this time. The Company continues to advocate for suitably tailored, holistic utility sector regulatory reform, and continues to integrate alternative energy sources to the grid through roof-top solar systems and solar-powered microgrids with battery energy storage technology. These projects help to increase the amount of renewable energy on the grid, reduce the impact of global fuel price shocks on local energy costs over time, and lower carbon emissions.

Changes in the fuel factor rate can be tracked by comparing electricity bills. Notices regarding these changes are also issued monthly via email, social media, and other mainstream channels. Customers can also view their daily energy usage data via the Company’s free customer portal at www.myftcionline.com.

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Police Commissioner Honoured with Distinguished Civic Service Award at TCHTA Star Awards

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Providenciales, Turks and Caicos Islands – Commissioner of Police Fitz Bailey has been recognised for his contribution to national security and the tourism industry, receiving the Distinguished Civic Service Award at the Turks and Caicos Hotel and Tourism Association’s Star Awards held on February 19, 2026 at Beaches Turks and Caicos.

The annual awards ceremony is the premier recognition event for the territory’s hospitality sector, bringing together industry leaders, executives and frontline professionals to celebrate excellence and the individuals whose work strengthens the destination’s global reputation.

Commissioner Bailey was honoured for his strategic leadership in the fight against crime and the measurable reductions in major offences, efforts widely credited with improving public confidence and reinforcing the Turks and Caicos Islands’ standing as a safe and competitive tourism jurisdiction.

In accepting the award, the Commissioner dedicated the recognition to the officers and staff of the Royal Turks and Caicos Islands Police Force, praising their commitment and professionalism in what he described as a collective national effort to make the islands more secure.

The TCHTA Star Awards spotlight the link between public safety and tourism performance, acknowledging that a stable and safe environment is essential to visitor confidence, investment and the continued growth of the sector.

This year’s ceremony featured high-energy hosting by Super P the Entertainer, with Omega serving as awards announcer, as the industry gathered to honour the people and partnerships that continue to elevate the Turks and Caicos brand.

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New Chartered Accountant Member Appointed to The Integrity Commission

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Darius E. Ferguson, Member of the Integrity Commission Board

Providenciales, Turks and Caicos Islands – Friday, 27 February 2026: Her Excellency the Governor, Dileeni Daniel-Selvaratnam, today announced the appointment of Mr. Darius E. Ferguson as a Member of the Integrity Commission Board, serving as the Chartered Accountant Member in accordance with Section 3(2)(a) of the Integrity Commission Ordinance. His appointment is for a period of three (3) years and follows consultation with the President of the Turks and Caicos Islands Society of Professional Accountants.

Mr. Ferguson, with family ties to Providenciales and South Caicos, is a Chartered Accountant with over twenty years of senior leadership experience across aviation, finance, technology and consultancy, he brings a strong and diverse background in financial governance, regulatory compliance and strategic planning.

A former Chief Financial Officer of Sky Bahamas Airlines for a decade, Mr. Ferguson managed all financial reporting, regulatory engagement, capital projects and commercial development initiatives. He previously served in senior audit roles at both Ernst & Young LLP and PricewaterhouseCoopers LLP, leading high‑risk audit engagements and ensuring adherence to international financial and accounting standards.

Throughout his career, Mr. Ferguson has demonstrated a strong commitment to professional ethics, community leadership and organisational accountability. His experience across corporate governance, financial oversight, and operational risk management will bring valuable strategic insight to the Integrity Commission.

Her Excellency the Governor welcomed the appointment, stating:

“Mr. Ferguson’s extensive background in financial management, auditing and governance, together with his leadership experience across both corporate and community sectors, make him well‑suited to serve on the Integrity Commission. His appointment strengthens our ongoing commitment to integrity, transparency and accountability in public life. I am confident that he will make a meaningful contribution to the Commission’s important work.”

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Multi-Agency Planning Enforcement Action Conducted in Five Cays

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Providenciales, Turks and Caicos Islands – Friday, 27 February 2026: The Informal Settlements Unit (ISU), in collaboration with key government agencies, coordinated a multi-agency enforcement exercise on Thursday, 5 February 2026, at Block and Parcel 60503/17 in the Five Cays area.

The exercise was led by the Planning Department, pursuant to its statutory authority under the Physical Planning Act to address unauthorised development. The ISU coordinated the operation, with support provided by the Crown Land Unit and the Turks and Caicos Islands Border Force, while the Royal Turks and Caicos Islands Police Force ensured security throughout the activity.

The enforcement action formed part of a Public Private Partnership initiative between the Turks and Caicos Islands Government and private landowners. The registered owners of the land would have sought the state’s assistance to issue copies of Section 58 Enforcement Notices on unlawful structures identified on the parcel. The subject parcel comprises approximately 25 acres extending across Millennium Highway.

During the exercise, a total of fifty-four (54) copies of the Enforcement Notice were issued on structures located on the parcel. Notices were affixed to structures and served on persons found to be occupying illegal developments.

The Informal Settlements Unit reiterates that these coordinated enforcement exercises form part of the Government’s ongoing efforts to uphold planning regulations, protect property rights, and promote orderly and lawful development. Persons undertaking construction are reminded that development without the requisite planning approvals is unlawful and subject to enforcement action.

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