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RIC commences prices reviews for T&TEC and WASA
The Regulated Industries Commission (RIC) has commenced price reviews for the Trinidad and Tobago Electricity Commission (T&TEC) and the Water and Sewerage Authority (WASA).
The exercises will focus on the electricity transmission and distribution sector and the water and wastewater sector.
The process will consist of three phases.
The first phase will include the publication and circulation of the RIC document titled Framework and Approach which outlines the process the RIC will follow to conduct the reviews.
This will be accompanied by the publication of the RIC document Information Requirements: Business Plan, which details the information WASA and T&TEC must submit to the RIC for these reviews.
The second phase will commence with the publication and circulation of various consultative documents which will detail the RIC’s views on key areas that inform the review process.
Stakeholders are invited to comment and provide feedback on the documents which will be carefully considered by the RIC.
Pointing out that one key area of concern was the quality of service provided by the utilities, the RIC said it was currently reviewing the existing Quality of Service Scheme (QSS) for T&TEC, and the proposed revisions will address new areas of concern such as the time taken to obtain a new connection.
The RIC is also in the process of establishing a QSS for WASA which will address the provision of a minimum water supply to customers; the time taken to resolve customer complaints; the time taken for new connections to be completed; and the time in which the supply of water is restored after an unplanned interruption.
The third phase will include the publication and circulation of the RIC document “Draft Determination (Rates and Miscellaneous Charges)” after its review of the respective Service Provider Business Plan/Pricing Proposal and the feedback solicited from stakeholders.
Following this, stakeholders will be welcomed to comment and provide their feedback on this crucial document.
This phase will also include face-to-face public consultation sessions between the RIC and various stakeholders.
The RIC will conclude the process by publishing and circulating the RIC documents . The review process for both utilities is expected to be completed by mid-2018.
The document can be accessed on the RIC's website.
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