Regulated Industries Comission

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This Multilateral Investment Fund (MIF) technical cooperation aims to increase the efficiency and effectiveness of the utilities sector by helping the Government of the Republic of Trinidad and Tobago establish the appropriate legal, regulatory, and institutional framework to render the Regulated Industrial Commission (RIC) a fully operational regulatory agency. The four components are: Institutional development of the RIC; Training for approximately 18 professionals of the local RIC staff; developing the legal and regulatory framework for the water and sanitation sector; and developing new policy and the legal and regulatory framework for the electricity sector. The first component funds the definition and implementation of the organizational structure and operational procedures for the RIC, as well as the provision of on-the-job training to the assistant executive directors. Upon completion of an 18-month training period, one of the assistant executive directors will be appointed as the new executive director of the RIC. The second component funds the training of 18 local, professional RIC staff people for two weeks in the theory and practice of modern, incentive-compatible utility regulation, including: the role of the regulator, the relationship between regulation and competition, incentive-based regulatory systems, regulation of service standards, and monitoring and enforcement. The third component funds RIC regulation of private participation in the water and sewerage sector.