As part of its functions under Section 5 of the URA Act 2004 (as amended), the URA may regulate tariffs and other charges levied by a licensee in accordance with any rules specified in the relevant Utility legislation.
In line with this, the URA is further mandated under PART IV of the Electricity Act 2005 to regulate tariffs within the electricity sector.
- Section 24 requires licensees to file any tariffs charged for an electricity service which it is providing to the URA within a prescribed time-frame.
- Section 25 requires the licensee to keep records of the tariffs determined by the Authority which shall be open to public inspection.
- Section 26 mandates the Authority to determine the tariffs once they have been filed by the licensee.
- Section 27 sets the procedures to be followed by the Authority in the determination of Tariffs.
- Section 28 makes provisions for the principles to be taken into account in the review and determination of tariffs, among which include the avoidance of undue discrimination among customers, the contribution to conservation and efficient use of electricity and ensuring the sustainability of the licensee’s operating and capital investment regime and reasonable earnings for prudent operation and the provision of a quality and reliable electricity service.
- Section 29 prohibits the licensee from charging a customer any fees in excess of the tariff that has been determined by the Authority.
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URA Provisional Guide for Tariff Application and Review Process