The Independent Regulatory Commission (IRC) will hold its third public consultation today, (October 16) which forms part of its ongoing Electricity Tariff/Rate Review for the Dominica Electricity Services Ltd (DOMLEC).
The hybrid meeting will take place at the Prevo Cinemall’s Executive Meeting Room from 3:30 PM and will provide those present with an opportunity to hear proposals by both DOMLEC and IRC on two matters.
“The electricity rate for DOMLEC is progressing this quarter. So far the commission has hosted two public consultations on DOMLEC’s tariff proposals,” Communications Specialist of the IRC, Edona Jno Baptiste said.“The IRC has begun consultation on two additional tariff proposals by DOMLEC.”
She continued, “These are DOMLEC’s five-year investment plan and DOMLEC’s revenue requirement.”
Jno Baptiste explained that the consultation of DOMLEC’s five-year investment plan will determine DOMLEC’s investing activities for the planning period under review and the value of investment to be factored in the company’s regulated rate base.
“The consultation on the revenue requirement will discuss the total amount of money the company must collect from customers to pay all its costs, including its return on investment,” she stated.
Furthermore, Jno Baptiste indicated that the consultation documents on both matters have been distributed to stakeholders and published on IRC’s website www.ircdominica.org.
She noted that the consultation period began on October 8, and will continue until November 26, 2024.
“After which a final decision on the company’s investment plan and revenue requirement will be issued in December,” she explained.
Jno Baptiste went on to state that DOMLEC and IRC will present their proposals at the meeting on Wednesday and that the commission has decided to merge discussions on these two matters to advance the targeted completion date of this rate review.
She revealed that future consultations will take place on DOMLEC’s cost of service study and load research, and ultimately DOMLEC’s rate proposal.
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