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The EA, however, contains major weaknesses. Although it does not expressly prohibit third-party power generation, it hinders the process since third parties do not have direct access to the nation transmission and distribution network. Further, the provisions of the EA may not effectively facilitate the efficient and commercial operation of BEC as ‘ownership, policy, regulatory functions and decision making processes and supervisory activities within BEC are so closely nested that political interventions on managerial decisions are institutionalized. (Fichtner 2010) In terms of the OEA, the minister may grant licenses to any person who wishes to construct an electrical system for the purposes of providing electricity to the public in any part of the Out Islands (Section 3). The Minister may grant the same powers and responsibilities to the licensee as BEC under the EA. The Hawksbill Creek Agreement, among other things, grants the Grand Bahama Port Authority the right to construct and operate utilities—including the provision of electricity on Grand Bahama—without need for further approval or license from the Government of the Bahamas. The GBPA has since granted a license to the privately owned Grand Bahama Power Company to exclusively supply electricity to Grand Bahamas. In terms of challenges, according to Fichtner, “there is no information available on the license or concession that the GBPA has entered into with the GBPC and or the way the GBPC is regulated” (Fichtner 2010). In terms of regulatory framework, the Public Utilities Commission Act provides for the establishment of a Public Utilities Commission (PUC) and empowers the PUC to regulate all utilities, including electricity and telecommunications. When the PUC commenced its regulatory activities in 2000, however, it only was authorized to regulate the telecommunications sector. The PUC since has been replaced by the Utilities Regulatory Competition Authority (URCA), established under the Utilities Regulation and Competition Authorities Act (2009). The Act empowers the Utilities Regulation and Competition Authorities to “issue all regulatory and other measures including making determinations, issuing regulations, and imposing penalties” (URCA Act 2009, Section 4(2)). Currently, however, the URCA does not regulate the energy sector. 3.2.6.3.2 Options for a New Sector Framework The discussion of options addresses basic principles for a new sector framework, sector roles, sector structure, clear and established regulatory regime, regulatory body, and adoption of a new governance mode. Some of the options include the following. • Clearly allocate roles and responsibilities at the institutional level. • Establish an independent regulatory body which has some of the following advantages: predictability in regulation for utilities and other stakeholders, including in the decision-making process; the decisions of independent bodies often are subject to appeal; create transparent tariff- setting procedures. • Determine an appropriate market/sector structure. In this case, Fichtner presents two different market options: The Grid Access Model/Third-Party Access Model, and the Competitive Power Market/Multiple-Buyer Market. The former allows, among other things, third-party access to the grid, and the latter includes access to the network and a competitive environment for the provision of electricity services. Fichtner seems to encourage the use of a single-buyer model, a market/sector variation under the competitive power market structure. This model encourages, among other things, competitive bidding for new generation capacity, and the participation of independent power producers. 33PDF Image | Energy Policy and Analysis Caribbean
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