82. Extraordinary tariff review
-
(1) An extraordinary tariff review shall be carried out by the Commission where due to one or more circumstances listed in subsection (2), a service licensee experiences what in its view constitutes a significant variation in its cost structure in relation to what was approved in the previous annual tariff review or triennial tariff review as the case may be.
-
(2) For the purposes of subsection (1), a circumstance constitutes—
-
(a) a substantial and unforeseen modification made to the water or sewerage quality standards or to the regulations imposing a substantial change in the conditions under which the services are provided and which entail a cost to the service licensee;
-
(b) the creation, substitution or modification of taxes affecting the service licensee or the provision of the services; or
-
(c) a substantial and unforeseen change in the conditions under which the services are provided, including a situation of force majeure,
provided that in any event, the impact triggering an extraordinary review, will be defined in the service licence.
-
(3) In carrying out an extraordinary tariff review the Commission shall define the marginal effect of each applicable circumstance listed in subsection (2) on the economic equilibrium of the service licensee.
-
(4) The Commission shall prepare a draft report of the extraordinary 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 are required to be applied to generate the required revenues for the service licensee to enable it to fulfil its obligations during the remaining term of the triennial period or its service 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.
-
(5) The Commission shall consider the comments made by the public under subsection (4) and shall after consultation with the service licensee make the changes as it sees fit to the report. (Amended by Act 3 of 2016)
-
(6) The Commission shall as soon as is reasonably practicable publish the report stipulating the new or modified tariff scheme in the Gazette and at least 2 newspapers in general weekly circulation in Saint Lucia.
-
(7) The new or modified tariff scheme referred to in subsection (6) shall be applied during the remaining term of the triennial period in which the extraordinary review was carried out or the remaining term of the service licence whichever is shorter.
(Amended by Act 13 of 2008)