The RA regulates the electricity sector set forth by the Electricity Act (EA) 2016. The EA sets out a regulatory framework for evaluating and managing future investments in the production and sale of electricity for the long-term benefit of consumers.
The purpose of the act is to:
- To ensure the adequacy, safety, sustainability and reliability of electricity supply in Bermuda so that Bermuda continues to be well positioned to compete in the international business and global tourism markets;
- To promote the use of cleaner energy sources and technologies, including alternative energy sources and renewable energy sources;
- To protect the interests of end-users with respect to prices and affordability, and the adequacy, reliability and quality of electricity service.
The actions in the Electricity Sector involve:
- Licensing the generation of electricity;
- Licensing the transmission, distribution, and retail sale (TD&R) of electricity;
- Managing and reviewing the Integrated Resource Plan (IRP) process, including Public Consultations
- Setting the electricity retail rates; and
- Setting and monitoring service standards to ensure the adequacy, reliability and quality electricity services.
Transmission, Distribution & Retail (TD&R)
BELCO is the only company licensed to transmit, distribute, and sell electricity in Bermuda. This is primarily due to the size of the country and our population. It is not cost effective to have more than one transmission and distribution network and therefore, the RA regulates BELCO to achieve reasonable rates and good customer service.
Electricity generation in Bermuda is open to competition. In order to ensure financial accountability BELCO is required to account for its generation and TD&R business separately. In addition to BELCO, there are two other bulk generators, Tynes Bay Waste to Energy Facility, and more recently commissioned Saturn Solar BDA 1 solar farm at the airport finger.
Visit to the Authorization Register for a complete list of electricity licence holders.