|
EXTENSION OF
PRICE CAP PLAN 2016
The Fair Trading Commission has extended the Price Cap Plan (PCP) 2016 for an additional year, with effect from December 31, 2018; the PCP 2016 will now end on December 31, 2019. This was principally prompted by the realignment of the PCP 2016 reporting periods with the financial year end for Cable & Wireless (Barbados) Limited (C&W), which was recently amended from March 31 to December 31.
All existing terms and conditions for the PCP 2016, inclusive of reporting requirements, will remain the same, namely:
- The Annual Compliance Filing (ACF) remains due on December 1 of each year.
- Updated versions of the Annual Audited Statutory Financial Statements, Annual Regulatory Financial Statements and Enhanced Allocation Model (EAM) shall also be for the period January 1 to December 31, 2018.
- Annual Audited Statutory Financial Statements shall be filed by April 15 of the following year.
- Reconciled Regulatory Financial Statements shall be filed by June 15 of the following year.
- The EAM shall be filed by June 15 of each year.
- Unaudited Financial Results for the period ending June 30, 2019 shall be filed by September 15, 2019.
The PCP 2016 governs the adjustment of rates of the regulated telecommunications services of C&W and includes a sub-cap on residential fixed line services. The PCP 2016 also restricts the prices of regulated services such that any price increases must be below or equal to the level of inflation, or 3% per year in circumstances where inflation exceeds 3% during that period. Where the inflation rate is less than zero (i.e. negative), the price increase would be set to zero for that year.
May 14, 2018
|
