NASSAU, BAHAMAS — The Utilities Regulation and Competition Authority (URCA) has reiterated that no electricity rate changes can be implemented in The Bahamas without its explicit approval, in accordance with the Electricity Act, 2024.

URCA made this statement following the Grand Bahama Power Company’s (GBPC) announcement of its intention to adjust rates, pending approval from the Grand Bahama Port Authority (GBPA).

The regulatory body clarified that GBPC has not yet submitted the required tariff rate application for review, as mandated by the Electricity Act, 2024. The Act designates URCA as the sole regulatory authority over electricity services throughout The Bahamas, with no exceptions.

URCA stressed that it does not acknowledge the authority of any other entity, including the GBPA, to regulate electricity within the country.

It also warned that it would take legal action against any party that attempts to contravene the established regulations.