RA Appoints Richard Ambrosio As Chief Executive
Richard Ambrosio has been officially appointed Chief Executive of the Regulatory Authority of Bermuda, following Board confirmation and after serving as Interim CE since November 2023.
A spokesperson said, “The Regulatory Authority of Bermuda [RA] is pleased to announce the appointment of Richard Ambrosio as its Chief Executive [CE], following confirmation by the Board of Commissioners. Ambrosio, who has been serving as Interim CE since November 2023, officially assumes the role, bringing a wealth of legal and regulatory expertise to lead the RA into its next phase.
“With a dedication to effective regulation and public service, Ambrosio has been an integral part of the RA since 2020, previously serving as Senior Legal Advisor and later as Director of Legal Services & Enforcement. His leadership has been instrumental in advancing the RA’s mission to ensure a fair, competitive, and dynamic regulatory environment that serves the best interests of Bermuda.”
“I am honoured to continue leading the RA in fulfilling its mandate to balance the needs of consumers, industry stakeholders, and the long-term sustainability of Bermuda’s regulated sectors,” said Mr Ambrosio.
“Our work is critical to encouraging investment, stability, and innovation, and I look forward to collaborating with industry partners, the Government and the community at large to drive meaningful progress.”
A spokesperson added, “The RA plays a pivotal role in overseeing key sectors, including electricity, electronic communications, submarine cables, and fuels—ensuring a resilient and forward-looking regulatory framework that promotes economic growth and consumer protection. Under Ambrosio’s leadership, the RA will continue to uphold its values of transparency, independence, and efficiency while addressing the evolving needs of Bermuda.”
Mark Fields, Chairman of the Board of Commissioners, said, “Richard has demonstrated a relentless commitment to the RA’s mission, and we are confident in his ability to guide the organisation through the opportunities and invigorating agenda ahead. His expertise, vision, and dedication make him the right choice to lead the RA into the future.”
“As Bermuda continues to navigate evolving regulatory and economic dynamics, the RA remains determined in its role of ensuring that the organisation supports both consumer interests and sustainable industry growth,” the spokesperson added.
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“Under Ambrosio’s leadership, the RA will continue to uphold its values of transparency, independence, and efficiency while addressing the evolving needs of Bermuda.” Just gag me with an oversized spoon!!! Uggggghhh…
Perhaps Mr. Ambrosio can explain why the RA continues to waste money on the offshore wind farm “consultation” fiasco. The RA will shortly release an Expression of Interest (EOI) for the wind farm but not the spreadsheets used by the consultants to justify continuing the madness. NO transparency. There is no mention of any money spent “derisking” the project, as recommended by the consultants. NO transparency.
The Offshore Wind Farm Consultation closed on Sept 15, 2023. As of today, 570 days have passed! 570 days!!!! NO efficiency. Since then, how much money has been spent on the absurd idea? NO transparency. How much time have RA employees wasted in those 570 days, and at what cost? NO transparency.
Government jobs: It would be great if you could get one!
Jobs consulting for the Government: gravy train, baby. gravy train!
The RA is required by law to obey directions from any Minister responsible for a sector regulated by the RA. If the Minister responsible for wind farms and hot air gives the RA a direction, it must comply with that direction, regardless of the wisdom of the Ministerial direction.
“wisdom of the Ministerial direction” OK, if you do not mind, I will save that gem for future use. Thanks. You continue to impress with the depth of your knowledge of government.
According to the March 2025 government org chart, that wise person would be the Minister of Home Affairs, The Hon. Alexa Lightbourne, JP, MP. Although our paths have never officially or unofficially crossed, I have never seen her display wisdom in the press with her comments.
NOTE: The RA is closed for strategic planning Tuesday, April 8 and Wednesday, April 9. Uh, oh…. Methinks something is a afoot! I wonder if my emails caused this.
The Regulatory Authority should be disbanded. It costs consumers more in fees than it saves them by controlling prices.
The RA is ineffective in lowering prices for Bermudian consumers. Total waste of time and a government money pit!!
The RA is not funded by government, they charge a fee to the companies they regulate. This means that they contribute directly to the cost of our cell service, internet and power. They have no I insensitive to reduce what we all pay!
“The RA is not funded by government”
No, but it is funded by the taxpayers.
Well done.
I contacted GlobalPetrolPrices because I noticed that Bermuda had dropped off the Electricity Prices list. They fixed a bug, and now we are back at #1! YEAH! Bermuda has the highest electricity price in the world!!! We are #1 at something!