The Utility Regulation and Competition Office (OfReg) is the independent multi-sector regulatory authority established by the enactment of the Utility Regulation and Competition Law 2016 and commenced operations on 16 January 2017.
OfReg is an amalgamation of the Information and Communications Technology Authority (ICTA), the Electricity Regulatory Authority (ERA), and the Petroleum Inspectorate, which hitherto had been a Department of the Government of the Cayman Islands.
While many of the functions previously carried out by the ICTA and ERA will continue as usual, in addition, OfReg is endowed with strengthened competition and consumer protection powers, as well as a duty to promote innovation in the sectors for which it has responsibility.
OfReg will provide the opportunity for consistency and collaboration in regulation across the ICT, energy, fuel and water sectors, better utilisation of skills and resources resulting in more efficient and effective regulatory processes, encourage competition where appropriate and feasible, champion sustainability and innovation across markets, and contribute to the economic and social goals of the Cayman Islands.
The management and staff of OfReg look forward to continuing to serve the people of the Cayman Islands as its new utilities regulator.