NEWS

Bill to Direct Future of Electricity

The Electricity Bill 2017 is expected to be tabled in Parliament when it sits for a week from March 20. The Bill sets in place processes as divestment of Fiji
28 Feb 2017 11:00
Bill to Direct Future of Electricity
fijisun.com.fj

The Electricity Bill 2017 is expected to be tabled in Parliament when it sits for a week from March 20.

The Bill sets in place processes as divestment of Fiji Electricity Authority takes place.

If and when passed, the Bill which will become an Act, calls for an independent regulator of the electricity company in Fiji.

The objective of the Act is to:

             improve competition and efficiency in the system operations and wholesale markets within the electricity industry

             provide for an independent regulator for the electricity industry with powers to make regulations and grant licences and do things necessary to ensure the efficient running of the electricity industry

             devolve all of the FEA’s regulatory functions and responsibilities to an independent regulator

             permit the Minister responsible to enter into agreements to achieve the initial divestment transaction

Currently, the regulatory body of the FEA sits within the Authority. This act will bring about changes on this front as well.

The regulator will have the authority to determine all matters pertaining to employment of all regulatory staff; have the authority to appoint, remove and discipline its staff as well.

The Act also states that Parliament must ensure that adequate funding and resources are made available to the regulator, to enable it to independently and efficiently exercise its powers and perform its functions and duties.

The Regulator will control its own budget and finances as approved by Parliament.

Government had already made its intention known to divest its shares in FEA.

It is understood that either the Fiji National Provident Fund or an international investor may look at buying the bulk of shares of the electricity company.

Edited by Rusiate Mataika

Feedback: jyotip@fijisun.com.fj

 

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