Retail Tariff 2024/25 Information Request #1 Order


This letter formally initiates the review of retail tariffs charged by BELCO to consumers in Bermuda, for the review period starting from 01/01/2024.


The RA wishes to use this retail tariff review as an opportunity to continue working with BELCO to improve existing tariff structures in Bermuda.

The 2024-25 tariff review process is anticipated to be spread over 9 months, from early April 2023 to early December 2023, with revised rates due to be implemented no later than on the 1st January 2024.

The structure of this document is as follows:

  • Sections 2 and 3 clarify and define acronyms and symbols used throughout the document
  • Section 4 provides the details of the Information Request
  • Annex 1 provides formulas for calculations and adjustments of the TD&R Revenue Allowance
  • Annex 2 details the provisions for the Performance Regime related to 2024-2025 annual performance adjustments
  • Annex 3 provides the provisions for the OPEX Efficiency Regime related to 2024-2025 annual performance adjustments
  • Annex 4 lists the guidelines for capital investment review