Legal Documents

The Chairman who has supervision of the Regulatory Authority of Bermuda, in exercise of the power conferred by section 6(6) of the Public Access to Information Act 2010, gives the following Notice:

In the interest of openness, good governance, transparency and pursuant to section 5 of the Public Access to Information Act 2010 (hereinafter referred to as "PATI" or the "Act"), the Regulatory Authority of Bermuda (RA) provides this Information Statement.

The RA has issued an order approving the 2026 retail electricity tariffs for BELCO. This order follows the RA’s prior decision on BELCO’s Allowed Revenue and sets the rates that electricity consumers will pay starting 1 January 2026. The approved tariffs reflect a decrease in base electricity rates across all customer categories, with average reductions of approximately 10%. The new tariff structure maintains existing rate design principles and continues to promote transparency and energy efficiency.

The RA has issued the Interim General Determination 2025, establishing a temporary methodology for calculating Feed-in Tariffs (FiT) for Bulk Generation Sole Use Installation (BGSUI) Licensees. This ensures fair compensation, supports renewable investment, and advances Bermuda’s 2035 clean energy goals.

The RA has issued an order setting the Allowed Revenue that BELCO may recover from electricity consumers in 2026. The decision was made in accordance with the Electricity Act 2016 and the RA’s approved methodology for setting retail tariffs. This order ensures that electricity pricing reflects reasonable and efficient costs while supporting continued investment in Bermuda’s energy infrastructure. The updated tariffs will take effect on 1 January 2026.

The RA has issued its Order on the Allowed Revenue for the years 2026 and 2027, which directly impacts the retail electricity tariffs charged by BELCO. This decision follows the requirements set out in Section 35 of the Electricity Act 2016 and the RA’s Retail Tariff Methodology General Determination 2025.

In the interest of openness, good governance, transparency and pursuant to section 5 of the Public Access to Information Act 2010, the RA provides this Information Statement.

This Administrative Determination describes the targets to be set for BELCO for a selection of indicators and provides further instructions in relation to their calculation.

This decision and order determines BELCO's allowed revenue for the 12-month period from January 1, 2025, to December 31, 2025.