GREAT BAY--Minister of Tourism, Economic Affairs, Transport and Telecommunication Grisha Heyliger-Marten has confirmed that a formal inquiry into SOL’s fuel pricing structure has been initiated through the Bureau Telecommunications and Post, marking a concrete step by Government to independently examine components of the pricing of fuel supplied to GEBE.
As part of the inquiry, BTP formally requested information and supporting documentation from SOL on September 21 concerning various pricing components applicable to the fuel supplied to GEBE. The inquiry remains ongoing, SOL has been granted an extension to provide its response, and no final conclusions or findings have been reached at this stage.
The inquiry was disclosed in the Minister’s written responses to Parliament during consideration of the 2027 budget, where questions were raised about fuel costs, pricing structures and regulatory oversight.
Heyliger-Marten indicated that Government’s approach is to subject the relevant fuel costs and pricing mechanisms to independent scrutiny rather than draw conclusions before the regulatory process has been completed.
BTP’s work includes reviewing supporting documentation such as fuel invoices and supplier contracts as part of its supervisory responsibilities related to the electricity concession. The objective is to independently verify that fuel costs ultimately passed through to consumers are legitimate and properly supported.
The Minister told Parliament that the current regulatory approach places SOL’s pricing mechanisms under independent examination.
“This mechanism does not control global oil prices, but it puts Sol’s pricing mechanisms under an independent magnifying glass for the first time in 15 years,” Heyliger-Marten stated.
The SOL inquiry is proceeding alongside BTP’s broader work reviewing fuel costs and tariff calculations. BTP has completed an extensive forensic recalculation covering GEBE’s fuel-cost recovery and tariff calculations for January through June 2026, using GEBE’s existing methodology and operational data, regional fuel benchmarks and an assessment of supplier premiums against relevant market benchmarks.
That work has included examining fuel invoices and supplier-premium information, while BTP continues finalizing its regulatory findings. Preliminary findings from the broader review have already been presented to the Council of Ministers.
The Minister’s responses also confirmed that BTP’s preliminary analysis identified areas requiring deeper scrutiny, including the application of supplier markups. A formal regulatory inquiry with the fuel supplier was subsequently initiated concerning those pricing structures.
Heyliger-Marten stressed through her answers to Parliament that the existence of an inquiry should not be interpreted as a finding of wrongdoing. The regulatory process remains active, and the supporting information requested from SOL must first be received and assessed before BTP can reach any conclusions.
BTP has not yet issued a final regulatory determination. The Minister said releasing unfinalized figures or drawing conclusions while supplier inquiries remain underway would be premature.
Government has indicated that once BTP completes its formal assessment and the ongoing inquiries are concluded, the relevant regulatory conclusions, calculated variances and any resulting remedies will be presented to Parliament.
The inquiry therefore represents the start of an independent examination of SOL’s pricing structure, not a determination of its outcome. With SOL having been given additional time to respond to BTP’s information request, the regulatory process will continue before any findings are established or further action considered.
