In accordance with section 36 of the Electricity Act 2016 (“EA”), the Regulatory Authority of Bermuda (the “RA”) shall the feed-in tariff in accordance with the methodology set by general determination and in accordance with the following principles—
a) the rate shall seek to allow compensation for, at most—
– the actual cost of generation that the TD&R Licensee avoids by purchasing power from distributed generation; and
– an estimate of any economic benefits from distributed generation;
b) the term of validity of the tariff shall be at least equal to the expected useful lifetime of the system used and maintained efficiently.
For the general determination setting the methodology for the Feed-In Tariff, click here.