Welcome to the Utility Regulation and Competition Office of the Cayman Islands.
The Utility Regulation and Competition Office (OfReg) is the independent multi-sector regulatory office 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.
What we do
As part of our core responsibilities, at OfReg we :
- Ensure that service providers operate in an environment that is fair and provides an opportunity to realise reasonable returns on investments.
- Advocate on behalf of consumers.
- Adopt and enforce regulations in the public interest and ensure that service providers comply with established regulations.
- Create standards and policies that protect the safety of the public.
- Explore innovation that will encourage the efficient and cost-effective delivery of utility services.
- Consider the economic and environmental impacts of all matters before OfReg.
- Encourage the conservation of natural resources and environmental preservation.
- Ensure effective methods of communicating OfReg’s areas of regulation, decisions, and their impacts on the public.
- Develop and promote activities that encourage stakeholders trust and confidence.
- Serve the public interest by committing to professionalism, diversity, mutual respect, and ethical conduct.
To know more about OfReg’s activities and the services we provide, please see our latest annual report here
Our Strategic Plan
OfReg's strategic direction aligns with Government's priorities and is designed to:
- Drive innovation in our people, processes and business practices;
- Actively adapt to changing policy, technologies, and markets;
- Ensure that our business processes and systems are fair and encourage competition and deliver services at economical cost;
- Strengthen our detection and response capability to non-compliance;
- Promote effective and fair competition, protect the interests of consumers, and facilitate innovation to promote economic and national development.
To know more about OfReg's strategic planning, please see our latest five-year strategic report here