URA only regulates the electricity and water industries. The main objectives of the URA, according to the URA Act, are:
1. To ensure the provision of safe, reliable and affordable regulated services
2. To maximise access to regulated services throughout Vanuatu.
3. To protect the long-term interests of consumers.
These objectives are central to the framework of economic regulation that facilitates efficiency and financial viability in regulated industries, prevents misuse of monopoly power and ensures that customers benefit from the gains of economic regulation and efficiency.
The URA Act also lists a number of URA functions:
- to provide advice, reports and recommendations to the Government relating to utilities;
- to inform the public of matters relating to utilities;
- to assist consumers to resolve grievances;
- to investigate and act upon offences under this Act;
- when requested by the Minister to do so, to conduct an inquiry into any systemic reliability of supply issues related to a regulated industry or other regulated service specified by the Minister in the request;
- to conduct public education programs for the purpose of promoting its objectives under the Act and the relevant legislation and in relation to significant changes in the regulation of a regulated industry;
- to advise the Minister on any other matter referred to the Authority by the Minister; and
- to administer and monitor compliance of Concession Agreements under the Act.
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