Govt Issues Directive To Regulatory Authority
The Ministry of Home Affairs has issued a Ministerial Directive to the Regulatory Authority of Bermuda and “key highlights of the Directive include enhanced transparency through annual reporting by the RA on its strategic plans, consumer protection efforts, transparent governance structures, and public consultations.”
A Government spokesperson said, “The Ministry of Home Affairs advised that it has formally issued a Ministerial Directive to the Regulatory Authority [RA] of Bermuda, reaffirming the Government’s commitment to transparent, accountable, and effective regulatory governance that serves the public interest.
“Published in the Official Gazette earlier this week, the Directive provides strategic guidance consistent with Government policy and priorities. While explicitly respecting the operational independence of the RA as established by law, it serves as a lawful mechanism to ensure regulatory decisions remain aligned with the government objectives.
“Key highlights of the Directive include enhanced transparency through annual reporting by the RA on its strategic plans, consumer protection efforts, transparent governance structures, and public consultations.
“Additionally, the Directive calls for capacity building via a Resource Development Plan aimed at bolstering local technical expertise in renewable energy and grid modernization.
“It also mandates a comprehensive review of Bermuda’s electricity transmission and distribution model to explore the integration of fairer pricing structures aligned with consumer grid usage to identify cost-saving opportunities.”
Minister of Home Affairs Alexa Lightbourne highlighted the Directive’s intent, “This Directive ensures regulatory actions align strategically with the government’s objectives, promoting affordability and efficiency into the modernization of essential services.”
The spokesperson said, “The Ministry communicated the Directive to the RA ahead of its publication as part of its ongoing collaborative approach.
“The Ministry notes this Directive as part of broader legislative and structural reforms underway to address stakeholder feedback and policy gaps, emphasizing transparency, accountability, and consumer-focused outcomes.
“The full Ministerial Directive is available for public review via the Official Gazette: Ministerial Directive Home Affairs.”
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“… reaffirming the Government’s commitment to transparent, accountable, and effective regulatory governance that serves the public interest.”
Oh, the irony!
How about publishing monthly how much the RA is spending on the offshore wind farm? The consultants must be swimming in the money like Scrooge McDuck.
Bermuda reminds me of a horse that tries to junp over a 10 foot hurdle, some how that does no seem to work.
Here we have the powers that be are trying to control RA basicall on one issue.
While so called afordable housing will for ever sits on the back burners because no body wants to take the chance.
Here is the secret it all about rent contol which affect the ordinary family who share their property with another, is that not sacrifice enough while the more afefuent can have a field day with rents.
Bacically if rents are controled they help one while hindering the other. Kind if stupid dont you think!
Why would any body want to build on unit if they can not collect enough reny to pay maintenance and the loan or mortgage . RENT CONTROL needs to be re evaluated but blocked by the 10 ft wall ..
Families are further hindered by Banks strict risk lending policy restrictions, because of an inability to obtatin a mortgage that puts the non Bermudian banks on the chopping block .There are ways to solve all this housing problem however in my 66 yerar in realestate i have learned alot, however I get blocked or no body will listen. Where is the catch?