Cayman’s energy regulator, the Utility Regulation and Competition Office (OfReg), is replacing its chief executive.
OfReg announced on Friday, 25 Feb., that Chief Executive Officer Malike Cummings has accepted a new position outside of the islands.
In a press release, Cummings said he accepted the CEO position with OfReg because it presented a great opportunity to be part of a team that was tasked with bringing regulation of Cayman’s various sectors under one roof.
“I am happy with the progress that we have made, and of the numerous initiatives we have successfully delivered upon in such a short period of time,” Cummings said, adding that he relished the challenge.
“I am very proud of the team and I wish them every success as they continue to strengthen the regulatory regime in support of all of our stakeholders, especially consumers.”
Cummings, a former Turks and Caicos Energy and Utilities Commissioner, was appointed chief executive of OfReg in September 2019.
The utility regulator was formed in 2017 through a merger between the regulatory functions of four existing organisations – the Electricity Regulatory Authority, the Information and Communications Technology Authority, the Petroleum Inspectorate and part of the Water Authority.
According to the auditor general’s office, which carried out a performance audit of OfReg in 2020, this was marred by problems from the start, before Cummings took up his post.
A lack of policies and procedures and the wasting of public money, for instance through excessive spending on consultants, were the main concerns, but also inconsistent leadership and limited governance and oversight, the auditor general concluded.
In response to the findings, Cummings agreed in 2020 that as a young entity the regulator required more time to mature to fully satisfy its remit, but also noted that the office was addressing the identified issues.
The regulator has come under fire for slow approval processes delaying Cayman’s renewable energy transition.
A new auction framework for utility scale solar projects, developed by OfReg, is set to be launched this year.
Rudy Ebanks, chairman of the board of directors of OfReg, said the board had been working closely with the outgoing chief executive officer to ensure the continuity of OfReg’s day-to-day business until an interim CEO can be identified.
Speaking on behalf of the board of directors, Ebanks said, “OfReg has accomplished much under Malike’s stewardship. It was a pleasure to serve with him on the Board, and we wish him every success in his future endeavors.”
OfReg will shortly begin the process of identifying an interim CEO and selecting a successor CEO for the organisation.
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