As your trusted electricity provider and community partner, Pelican Energy TCI is committed to keeping you informed about the current regulatory energy matters that will impact your electricity service and costs. Over the last few months, we have conducted a series of Energy Matters community meetings with you, our valued customers, to share and explain important regulatory initiatives that will affect you in the future. Your understanding and participation in these matters is critical because reliable electricity powers our daily lives and fuels our dynamic, vibrant economy.
To expand and maintain reliable electricity to power our growing nation, Pelican Energy TCI submitted a proposal for revised electric rates in February 2024. There’s been one general rate increase in 20 years for the majority of residential customers. The proposed 6% increase could mean an additional $2 to $15 per month on electricity bills.
A: Her Excellency the Governor has approved the appointment of an independent inquirer to examine the reasonableness of our submission for revised electric rates.
We requested the appointment of the inquirer, following the Governor’s denial of our proposal for revised electric rates, which was submitted on February 14, 2024.
The appointment of an inquirer forms part of the rate review process outlined in the Electricity Ordinance. Interested persons can make representation during the inquiry. Once completed, the inquirer provides a report to Pelican Energy TCI as the public supplier and to Her Excellency the Governor with its recommendations.
Learn about the intricate fuel supply chain that powers electricity generation on our Islands and understand the key factors at each step that impact your energy costs. For an overview of how these factors affect your electricity bills, please view our fact sheet.
A: Pelican Energy TCI purchases fuel to generate electricity from a local supplier selected through a periodic competitive bidding process.
A: Pelican Energy TCI needs to purchase fuel in advance to maintain a stable supply of electricity for customers. There is a two to three-month delay before global fuel prices are reflected in the fuel factor on customer electricity bills. The combined costs of the entire fuel supply chain impact the fuel factor rate on your electricity bill. Understanding these components helps explain the fluctuations in energy costs.
At Pelican Energy TCI, we believe in keeping our customers informed about how their electricity bills are calculated. Your bill consists of two components: a fixed electric rate and a variable fuel factor rate.
The electric rate has remained stable over the past 20 years, with only one general rate adjustment in 2020. The fuel factor represents the cost of fuel purchased in a month for generating electricity. The fuel factor fluctuates based on global fuel market prices. For a detailed breakdown of your bill, including an explanation of the fuel factor and other key details, please refer to our fact sheet.
A: The fuel factor, or power cost adjustment, is a charge that reflects the cost of fuel used to produce your electricity. The fuel cost fluctuates based on the global fuel market, which is beyond Pelican Energy TCI’s control.
A: Fuel prices change based on global market conditions. There is typically a two to three- month delay before these changes affect your bill.
Pelican Energy TCI is committed to keeping you informed about the pending Renewable Energy and Resource Planning Bill (RERP Bill).This important legislation holds the promise of a cleaner, more sustainable energy future for our Islands within a supportive regulatory framework. It can help increase renewable energy resources, lower our electricity costs over time, reduce dependence on fossil fuels, lower carbon emissions, and protect our environment for generations to come. To learn more about the RERP Bill, please see our RERP Bill fact sheet.
A: The RERP Bill was tabled by the Turks and Caicos Islands Government in the House of Assembly in 2023 to support the development of renewable energy, grid integration, and energy storage solutions, enabling a transition to a cleaner, more sustainable energy future. The draft bill is available on TCI Government’s website.
A: Pelican Energy TCI has been the largest investor and customer partner in renewable energy systems since 2015 and will continue to collaborate with the Government and its consultant to advance renewable energy in a way that ensures reliability, resiliency, safety, sustainability, and affordability.
A: Pelican Energy TCI believes in continuing to invest in renewable energy that provides least-cost electricity service, ensuring grid integrity while accommodating independent renewable energy systems within a supportive regulatory framework. We want to make sure renewable energy benefits all customers fairly. Customers who do not install renewable energy systems should not pay for the associated costs of those who do.
A: The initiatives are expected to help lower electricity costs over time, maintain high reliability and system resilience, ensure safety, reduce fuel use and carbon emissions, and meet the growing energy demands of the TCI economy.
Pelican Energy TCI wants to keep you informed about the Turks and Caicos Islands Multisector Public Utility Regulatory Agency (MS-PURA) Draft Policy introduced by the Government in March 2024. The proposed centralized agency will govern the future of essential public utilities including energy, telecommunications, water, sewerage and related services. It aims to create an independent regulatory commission, streamline processes, and establish a Disaster Recovery Trust Fund to strengthen utility infrastructure. For more information on how this may affect you, please check out our fact sheet.
A: The agency is designed to govern essential public utilities, simplify regulatory processes, and ensure transparency, public interest, affordability, and resilience of utility services.
A: Pelican Energy TCI supports regulatory reform and believes that a well-balanced framework can benefit customers. We have engaged in consultations with the Government and submitted our recommendations to ensure customer, utility, and investor interests are balanced.
A: The draft policy will guide further consultations, leading to new legislation aimed at regulatory accountability, good governance, and transparency. Stakeholder participation will be encouraged throughout the process.
Please contact us with any questions related to current regulatory matters.
We are here to keep you informed.
