(1) The Commission shall carry out and complete a triennial tariff review in accordance with subsections (2), (3), (4) and (5) for a triennial period of at least 60 days before the end of that triennial period.
(2) In carrying out a triennial tariff review, the Commission shall review the tariff scheme and level of tariffs in the service licensee's tariff scheme, taking into consideration the new quality and expansion goals set by the Commission and the investment plan of the service licensee for the ensuing triennial period.
(3) The Commission shall prepare a draft report of the triennial tariff review stipulating the new tariff scheme or the modification of the service licensee's tariff scheme including the tariff scheme and the level of tariffs which is required to be applied to generate the required revenues for the service licensee to enable it to fulfil its obligations during the subsequent 3 years or remaining term of its licence whichever is shorter, and shall publish the draft report in the Gazette and at least 2 newspapers in general weekly circulation in Saint Lucia and shall invite comments from the public within at least 2 weeks from the date of publication.
(4) The Commission shall consider the comments made by the public under subsection (3) and shall make the changes to the report as it sees fit.
(5) The Commission shall not later than 60 days prior to the end of the triennial period, publish the report stipulating the new or modified tariff scheme in the Gazette and in at least 2 newspapers in general weekly circulation in Saint Lucia.
(6) The new or modified tariff scheme referred to in subsection (5) shall be applied during the triennial period next ensuing the one in which the triennial review was carried out.
(Amended by Act 13 of 2008)