Fuel Market Regulation (Amendment) Bill, 2026
Private member's bill, sponsored by Christopher Saunders, MP, Bodden Town West
Deferred. Debate deferred (sitting of 5 October 2026). Reported by Radio Cayman.
What this bill does
This private member's bill gives the Utility Regulation and Competition Office (OfReg) power to review fuel supply contracts held by dominant fuel suppliers and, if a contract no longer serves the public interest or offers best value, to end it and order a fresh competitive tender. The supplier gets notice, a chance to respond and a minimum wind-down period, and can appeal to the Grand Court.
- OfReg can review a dominant supplier's fuel contract on its own initiative or at Cabinet's direction, looking at pricing against market and international rates, how long it has run without re-tender, and any collusion or abuse of dominance
- Contract holders get at least 45 days to make representations, and a terminated contract runs for at least 180 days after the determination; a re-tender must be ordered within 30 days
- Re-tenders must be open and transparent, and the incumbent can bid on equal terms; OfReg must publish the outcome and reasons within 30 days
- Compensation for early termination is limited to unrecoverable costs, with no payment for lost future profit; appeals go to the Grand Court within 45 days
Who it affects: fuel importers and distributors with significant market power, OfReg, Cabinet, fuel consumers and the public purse
This summary is AI-generated from the official document and may contain errors; it is not legal advice. Always consult the source text below.
Official documents
Debated in Parliament
Hansard sittings whose records mention this bill: