The Fijian Competition and Consumer Commission (FCCC) is actively seeking feedback from stakeholders regarding the price control order on electricity charges implemented in 2022. This initiative underscores the FCCC’s commitment to transparency and inclusivity in its regulatory processes.
The public notice issued by the FCCC invites input from various parties, including the public, industry stakeholders, and anyone with an interest in electricity pricing in Fiji. After reviewing the feedback received, the FCCC will make recommendations to the Minister based on the insights gained, as per Section 40 of the FCCC Act 2010. This will help determine whether the existing order should be modified, extended, or revoked.
Energy Fiji Limited (EFL) has suggested an increase in electricity prices to bolster its ambitious 10-year Power Development Plan, which is estimated to require a substantial investment of $4.3 billion. This plan, submitted to the FCCC in August 2022, is aimed at ensuring an adequate power capacity and a reliable supply, which are vital for fostering economic growth and advancing the transition to renewable energy sources.
Furthermore, EFL previously indicated the need for a robust tariff framework to entice Independent Power Producers (IPPs) by establishing competitive feed-in tariffs. This strategy is intended to relieve EFL of certain power generation investments, enhancing both efficiency and sustainability in Fiji’s energy sector.
The FCCC’s ongoing assessment of electricity pricing is essential, as it plays a pivotal role in developing a reliable energy system that caters to the increasing demands of the nation while safeguarding consumer interests. This proactive engagement allows stakeholders to influence decisions that markedly affect both economic vitality and energy security in Fiji.
In summary, this review and potential adjustment of electricity pricing is a constructive step towards greater transparency and fairness in the energy market, promising benefits for both consumers and energy providers alike. The FCCC’s inclusive approach may lead to a more balanced regulatory framework, ensuring that all parties’ concerns are adequately represented.
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