Cayman’s electricity and telecoms regulators are preparing for the “imminent” merger of the independent bodies into one Public Utilities Commission.
Both the Information and Communications Technology Authority and the Electricity Regulatory Authority told the Cayman Compass this week they expect the change to happen soon.
A recommendation of the EY Report, which looked at ways of cutting the cost of government, the merger also brings water and fuel regulators under the same umbrella organization. It is expected to see the authorities share office space and administrative staff in a move that the EY consultants predicted would save government $250,000 annually.
ICTA managing director Alee Fa’amoe said, “The merger of the public utilities regulators has to be a priority of the ICTA as it is imminent but we are determined to continue with our other programs and initiatives in tandem with the transition and all that entails.
“We recognize that this is a trend in the regulatory space and we know it benefits both the providers and the consumers to have an entity such as this working on their behalf.”
Charles Farrington, managing director of the Electricity Regulatory Authority, said the move made sense for the small organization, potentially enabling it to reduce administrative and legal expenses.
“I think the concept is that we have one authority and it will have the different regulatory functions underneath it, so the current regulatory framework will remain in place,” Mr. Farrington said.
Mr. Fa’amoe said there were a number of similarities in the roles performed by the different regulators. He said key responsibilities of the new commission would likely include ensuring consumers get acceptable service at reasonable cost, providing an avenue of complaint for consumers and promoting long-term provision of efficient utility services for national development.