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Press Release

Fortis TCI Press Release

FortisTCI meets with Commissioner of Energy and Utilities

FortisTCI meets with Commissioner of Energy and Utilities 30Mar 2023

Providenciales, Turks and Caicos Islands (Thursday, March 30, 2023) – FortisTCI and newly appointed Commissioner of Energy and Utilities, Delano Arthur, held an official introductory meeting last week Thursday, March 23, to discuss the energy industry and regulatory reform of the sector.

FortisTCI President and CEO Ruth Forbes led the discussion on behalf of the company, accompanied by Senior Vice President of Operations Devon Cox, Vice President of Finance, Corporate Services and CFO Aisha Laporte, Vice President of Innovation, Technology and Strategic Planning Rachell Roullet and Director of Legal Services, Compliance, and Assistant Company Secretary Alexandria Missick.

The Commissioner expressed interest in maintaining active and transparent engagement with the utility and modernizing the regulatory framework in TCI. It is hoped that the meeting will set the stage for good faith negotiations on updating the regulations that govern the country’s electricity sector.

The meeting also included discussions on the cost of electricity, the fuel factor calculation on customers’ bills´╗┐, the Company’s generation fleet, and capital investments. Mr. Arthur assumed the role of Commissioner of Energy and Utilities in January 2023, and was accompanied by TCI Government Energy Analyst Dr. Eric Salamanca during the meeting.

Following the discussions held at the Customs Department Conference Room in Providenciales, the Commissioner and Dr. Salamanca toured the FortisTCI Providenciales power plant for a first-hand view of the company’s operations, fuel storage facilities, the mechanical workshop, and the operators’ control center.

FortisTCI President and CEO Ruth Forbes stated: “We were pleased to meet the Commissioner and welcome him to this new role. This meeting was an opportunity for us, as the energy provider to the TCI, and the regulator, to build upon prior discussions on charting the way forward for the electricity sector. We welcomed the open and transparent dialogue and the Commissioner’s interest in advancing good-faith negotiations on regulatory reform. We see this as a critical step to support the rapidly evolving energy sector and the expansion of alternative energy sources. We look forward to working with Mr. Arthur and his team in the months ahead."