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The RA reduces the Retail Tariff for the second year in a row. With a focus on providing relief to consumers due to the COVID-19 pandemic, the Retail Tariff ("RT") has been reduced. The RT is the rate at which electricity per kilowatt hour is sold to consumer and is reflected on a BELCO bill as the ‘Usage Charge’. The RA is mandated by law to promote and preserve competition; promote the development of the Bermudian economy; and promote innovation in the sectors it regulates. As such, the RA is pleased to provide updates on three initiatives in the Electricity and Electronic Communications sectors. 1. RA lifts the moratorium on 5G. After an extensive review process, the RA's Board of Commissioners has lifted the moratorium to allow 5G Technology to be deployed in Bermuda. This decision is based on the compelling benefits that consumers and local and international businesses will reap - such as enhanced mobility, connectivity, reliability and security, and includes strict safety requirements and adherence to Appropriate Safety Standards as referenced by the International Standards bodies. 2. 3. More About 5G

RA INITIATIVES TO BENEFIT CONSUMERS & BUSINESSES

Communications licences were issued to three new providers in the Electronic Communications sector. Increased competition in the local market typically benefits consumers and leads to lower prices, greater product variety and higher quality services.

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