December 8, 2020

RIC Begins Review Process For WASA, T&TEC Rates

By Newsroom

The Regulated Industries Commission (RIC) has begun its price review processes for both the Water and Sewerage Authority (WASA) and the Trinidad and Tobago Electricity Commission (T&TEC).

In a statement on Tuesday, the RIC said both agencies must first submit the necessary documents to begin the initial phase of the review.

Under the RIC Act, No. 26 of 1998, the RIC has the legal responsibility and authority to determine rates and tariffs for T&TEC and WASA. RIC also has a duty to consult with service providers and representatives of consumer interest groups as part of its statutory remit.

This will be followed by the publication of the RIC’s Framework and Approach Document, which will provide broad details about the process that the RIC will follow in conducting the Review.

The second phase includes the release of various Consultative Documents which will present the RIC’s views on key areas that impact various aspects of rate determination, such as quality of service.

The third phase entails the release of the RIC’s Draft Determination for public consultation after reviewing the Service Provider’s Business Plan/Pricing Proposal.

The RIC will conduct open public consultation sessions during this period.

Finally, the RIC will publish its Final Determination after reviewing all comments and concerns raised during the public consultation.

 

Share