RIC begins price review for WASA, T&TEC

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    The Regulated Industries Commission has begun the Price Review process for WASA and T&TEC.

    Under the RIC Act, the Commission has the legal responsibility and authority to determine rates and tariffs for these two companies.

    Phase One of the Price Review Process begins with the release of the RIC’s “Information Requirements: Business Plan Document”, which specifies the information that WASA and T&TEC must submit.

    This will be followed by the publication of the RIC’s Framework and Approach Document, which will provide broad details about the process to be followed in conducting the Review.

    The second phase includes the release of various Consultative Documents which will present the RIC’s views on key areas that impact various aspects of rate determination, such as quality of service.

    The third phase will see the release of the RIC’s Draft Determination for public consultation after reviewing the Service Provider’s Business Plan/Pricing Proposal.

    The RIC will publish its Final Determination after reviewing all comments and concerns raised during the public consultation.