ERC approves lower open access threshold

THE Energy Regulatory Commission (ERC) has lowered the electricity consumption threshold to 100 kilowatts (kW) from the 500 kW average monthly peak demand to allow more end-users to choose their electricity supplier.

The new threshold will take effect on June 26, 2026, paving the way for more medium-sized enterprises and institutions to directly choose their electricity suppliers or aggregate their demand under the Retail Aggregation Program (RAP).

‘By expanding retail access to more end-users, we are promoting genuine consumer choice and driving competition that can lead to better prices, improved service quality, and innovation in the power sector,’ said ERC Chairperson and CEO Atty. Francis Saturnino C. Juan.

The commission has opted for a phased and coordinated approach to ensure market readiness and operational stability. The eight-month transition period before effectivity allows Distribution Utilities (DUs) and Retail Metering Service Providers (RMSPs) sufficient time to procure and install compliant metering facilities.

This approach also addresses key concerns raised by stakeholders during the public consultations held in September, particularly on the availability of the DUs’ Advanced Metering Infrastructure, procurement timelines, and potential stranded capacities from existing Power Supply Agreements (PSAs).

In line with this, the ERC has also amended and issued the new Rules to Govern the Implementation of Advanced Metering Infrastructure (AMI) by DUs and ERC-authorized entities, which will guide the rollout of smart metering systems across the country.

The ERC said it will closely coordinate with the Department of Energy (DOE) and the Independent Electricity Market Operator of the Philippines (IEMOP) to ensure that billing, registration, and settlement systems are ready to accommodate the increased number of retail customers and transactions.

To guide the transition, the ERC will prepare and publish a Comprehensive Roadmap detailing the phased implementation of customer choice programs-including RCOA (Retail Competition Open Access), RAP, and the Green Energy Option Program (GEOP)-up to eventual household-level participation.

Currently, the retail market records over 2,300 customers who have switched under RCOA and 37 Retail Aggregated Groups (RAGs) with a combined demand of nearly 31 megawatts (MW), indicating growing confidence and readiness among consumers to engage in retail competition.

‘Lowering the contestability threshold to 100 kW and implementing it in a deliberate and orderly fashion marks a significant advancement in unlocking the full potential of open access and consumer choice in the Philippines. This move underscores our commitment to fostering a fair, competitive, and transparent electricity market that delivers enduring benefits to Filipino consumers,’ Juan said.

Gradual, flexi-tariff on rice starts January 2026

A MORE gradual and flexible tariff adjustment on rice shall be adopted starting January 1, 2026 depending on the change in international prices, according to the Economy and Development (ED) Council chaired by President Ferdinand R. Marcos Jr., the Department of Economy, Planning, and Development (DEPDev) announced Tuesday night.

This, the Council said, after it approved the recommendation of the Tariff and Related Matters Committee (TRMC) to maintain the tariff rate on rice imports at 15 percent until December 31,2025, for both in-quota and out-quota imports.

‘Starting January 1,2026, a more gradual and flexible tariff adjustment shall be adopted, with adjustments by 5 percentage points per 5 percent change in international prices, subject to a minimum rate of 15 percent and a maximum rate of 35 percent,’ the DEPDev statement read.

The socioeconomic planning body said the TRMC’s recommendation is part of a ‘broader’ government strategy to ensure ‘stable’ rice prices and protect both farmers and consumers, while safeguarding macroeconomic stability.

For his part, DEPDev Arsenio M. Balisacan underscored that the recent decision made by the President-upon the Department of Agriculture’s (DA) recommendation-to extend the rice import ban until the end of December ‘renders the rice tariffs redundant,’ adding, ‘they no longer affect local market prices.’

In an interview with reporters on Monday, Balisacan said DA’s assessment is that there is ‘good enough supply’ for the rest of the year.

‘Our data also shows that there is good enough supply to prevent increases in retail prices,’ the DEPDev secretary also noted.

He pointed out that the overall goal is to protect farm gate prices from further falling.

‘Because in the past almost a year now, farm gate prices have dropped by more than 30 percent. It is quite sharp. I’ve seen that kind of decline in recent years, many years. So it’s a concern that our poorest of the poor which is in the rural communities are hitting such a .’ Balisacan noted.

He emphasized the importance of using a ‘combination of tools to achieve both the farm problem and the consumer problem’ to make food prices affordable to consumers while at the same time preventing any upward pressure on inflation and hurting the economy in the longer term.

‘So those things will require different tools and the import ban is very temporary,’ the DEPDev chief said, adding, ‘We are setting in place a more permanent ecosystem for the rice sector and the food sector in general.’

Apart from the rice tariff, the ED Council approved other key programs on Education, Water Access, and Social Protection.

Among the approved measures is the Program for Learning Upgrading and School Development (PLUS-D) of the Department of Education (DepEd), with a total cost of P38.27 billion.

Proposed for official development assistance (ODA) loan financing from the World Bank, PLUS-D seeks to enhance learning outcomes and strengthen education management and delivery systems nationwide, DEPDev said.

The agency said PLUS-D, which is scheduled for implementation from 2026 to 2032, will introduce ‘system-level’ interventions, provide targeted support to schools, and establish monitoring and evaluation mechanisms.

The program aims to improve literacy and numeracy among Kindergarten to Grade 6 learners, and boost reading and math proficiency for students in Grades 7 to 10.

Balisacan said this project ensures that education reforms reach every Filipino learner, especially those in disadvantaged areas.

‘By strengthening schools and supporting teachers, we hope to create better learning environments that enable every child to achieve their full potential,’ Balisacan noted.

The Council likewise approved the Accelerating Water Supply and Sanitation for the Poor and Lagging Areas (AWSPSA) project, with a total cost of P14.98 billion.

Also proposed for ODA loan financing from the World Bank, AWSPSA aims to improve access to safe water supply and sanitation services in underserved communities, addressing public health and local development challenges, DEPDev noted.

BAHAMAS-COURT-Former police officer jailed on sex related charge

A High Court judge has sentenced a former police officer to four years in jail after he was found guilty of trying to intimidate a woman into trading sex for her freedom.

Justice Renae McKay also imposed a two year probation on Shaquille Williamson, who had been fired after he was convicted of procuration on June 4. The unmarried father of two will also serve an additional year in prison if he violates the terms of his probation.

The conviction stems from an incident that occurred on July 5, 2023 when during the early hours of the morning the woman and her boyfriend were having sex on the hood of a car when they were startled by a patrol car’s flashing lights.

They scrambled to get dressed, and Williamson, who was in a marked patrol car, ran a name check on them.

The court heard that while he told the woman’s boyfriend that he had no outstanding matters, she had an outstanding warrant for an unpaid traffic ticket.

Williamson suggested that he could make the warrant go away if the woman went with him.

When she told him that she had just had sex with her boyfriend, he allegedly said, ‘I don’t care.’

The woman made a panicked call to Police Control Room while Williamson was talking to her boyfriend. A patrol unit came and Williamson was arrested.

But Williamson said that it was the woman who had suggested swapping sex for her freedom.

Justice McKay in handing down the sentence, said Williamson would have to live with the consequences of his actions, given the publicity surrounding the case.

But she said that a clear message needed to be sent to members of the Royal Bahamas Police Force, and other military, that to whom much is given, much is required.

CARIBBEAN-FINANCE-IDB announces new initiative to expand digital payment systems in Latin America and Caribbean

The Inter-American Development Bank Group (IDB Group) says it has launched a new initiative aimed at accelerating the rollout of real-time, low-cost digital payment systems throughout Latin America and the Caribbean.

It said that IDB Pay will bring financial services to the 30 per cent of the region’s population that remains unbanked by 2030 and will support countries to build inclusive, interoperable, and secure Fast Retail Payment Systems (FRPS) and other Digital Public Financial Infrastructures (DPFI).

IDB Pay will also use strategic technical cooperation, policy innovation, and flexible financing instruments to support the build-up of inclusive, interoperable, and secure fast retail payment systems that align with global best practices and are tailored to national contexts.

‘IDB Pay is designed to accelerate the inclusion of those who have been historically unserved by the financial system. By integrating them into modern payment systems, the door to formal financial ecosystems, we empower individuals, strengthen communities, and uphold the fundamental right to economic participation,’ said Anderson Caputo Silva, Chief of the IDB’s Connectivity, Markets and Finance Division.

The solution was unveiled during the FinnLAC2025 Forum, an event organised by the IDB Group to discuss the future of the financial industry in Latin America and the Caribbean.

The IDB Group said that IDB Pay will support interoperability, noting that as the foundation of a truly inclusive and efficient digital payment ecosystem, IDB Pay supports establishing technical and regulatory standards that allow different payment systems to communicate and operate seamlessly.

It will also enables creating legal and policy frameworks that support the implementation of FRPS and other Digital Public Financial Infrastructures. IDB support includes co-developing regulatory roadmaps and enabling regulations with financial authorities; facilitating peer learning and regional dialogues to harmonize regulations; and offering policy-based loans to incentivize reforms.

‘ A thriving digital financial ecosystem depends on active participation from the private sector. IDB Pay helps in designing policies and mechanisms that encourage private-sector participation, public-private cooperation in innovation, and investment in digital financial services. It supports offering alternative payment system architectures that leverage existing private-sector infrastructure and support pilot programs and public-private partnerships.’

The IDB Grup said that strong governance is the backbone of any resilient and inclusive financial system.

‘Without defined oversight, coordination, and accountability, digital financial infrastructures risk fragmentation, inefficiency, and erosion of public trust. IDB Pay supports establishing strong institutional oversight and coordination mechanisms to ensure transparency, accountability, and long-term sustainability.’

The IDB Group said that the new initiative builds on the IDB’s successful work in several countries and its support for regional digital finance infrastructure, including technology sandboxes and its partnership with the Bank of International Settlements to offer open-source technology among central banks to facilitate the implementation of payment systems and other settlement infrastructures.

JAMAICA-WEATHER-Government estimates damage caused by Hurricane Melissa as high as seven billion US dollars

The Jamaica government says the preliminary estimate of the damage caused by Hurricane Melissa when it slammed into the country last Tuesday has been put at an estimated cost as high as seven billion US dollars.

Prime Minister Andrew Holness told Parliament on Tuesday that the figure is about 32 per cent of the country’s gross domestic product (GDP) for fiscal year 2024/2025 and that detailed damage assessments are still underway even as he is providing the ‘very preliminary, high-level estimates only to illustrate the scale of the devastation’.

Holness told legislators that the early assessment is based on benchmarks from comparable regional disasters; physical damage to housing, commercial buildings; roads, electricity, water, and telecommunications infrastructure.

Holness said that the category 5 hurricane, blamed for at least 32 deaths, is not only a national tragedy, but a warning.

‘The storm’s 13-foot surge on our western coastline and up to 30 inches of rain in the central highlands revealed devastating power of a new climate reality. The era of a once-in-a-generation hurricane is over.

‘It is clear that Hurricane Melissa will have a profound economic impact on our country. The storm struck the heart of Jamaica’s productive belt. It tore through our breadbasket parish of St Elizabeth; it disrupted our tourism corridor stretching from Westmoreland through St James and into Trelawny and St Ann; and it inflicted heavy damage on housing, community infrastructure, commercial operations and public utilities across multiple parishes.

‘Thousands of households now face the loss of homes, crops, equipment, and small enterprises. This is not only a humanitarian crisis – it is a shock to livelihoods, incomes, and local economies,’ Holness told legislators.

He told Parliament that the government anticipates a temporary slowdown in economic activity, particularly in the most affected parishes.

‘Agricultural output will decline in the short term as farmers replant and livestock operations recover. The tourism sector, while resilient and working swiftly to reopen, will require targeted support to restore capacity and confidence.

‘Small and medium-sized enterprises – especially those in retail, manufacturing, services, and the creative industries – have sustained significant losses and will need liquidity and recovery support to rebuild inventories, repair facilities, and restart operations.

‘At the same time, supply chains for food, construction materials, and consumer goods are being actively restored, though some market disruptions may occur in the immediate weeks ahead. A very preliminary estimate suggests that short-term economic output could decline by eight to 13 per cent,’ Prime Minister Holness said.

The prime minister said that this means that revenues will decline as economic activity slows, even as expenditure must increase to finance emergency relief, recovery, and reconstruction.

‘This will place pressure on our fiscal targets,’ he said.

Meanwhile, Prime Minister Holness said that the National Housing Trust (NHT) will grant an automatic six -month mortgage moratorium to homeowners in the parishes most severely affected by the passage of the storm.

He said that these parishes are St. Elizabeth, St. James, Manchester, St. Ann, Westmoreland, Hanover, and Trelawny and that all NHT mortgagers are insured under the Trust’s houseowners’ mortgage policy, which covers damage from hurricanes, storms, flood, fire among others.

‘The NHT has already mobilised its branches island wide to help mortgagers prepare and process their insurance claims quickly and efficiently,’ he said, adding that recognising that many families will need time to prioritise home repairs, ‘the NHT will will grant an automatic six-month moratorium on mortgage payments for mortgagers in the worst affected parishes.

‘This measure will assist some 20,000 home owners. For all other parishes, the NHT will continue to consider individual moratorium applications for those who have lost income or face special hardships,’ Holness said.

The prime minister also announced that several parliamentarians will be allocated funds for trucked water to constituents affected by the storm.

He said the parliamentary representatives in Westmoreland, Hanover, St. Elizabeth, St. James, Manchester, and Trelawny will be allocated two million dollars (One Jamaica dollar=US$0.008 cents) under this measure as the parishes most severely affected by the weather system.

The government also announced that all shelters will remain open for as long as needed, equipped with food, water, and psychological support services. It said that the facilities are being managed by the Ministry of Labour and Social Security and the Ministry of Local Government and Community Development.

Meanwhile, the Jamaica Customs Agency (JCA) has suspended the import duty and General Consumption Tax (GCT) on several hurricane relief items until Friday, November 28, 2025.

CANANEWS AND SPORTS SCHEDULE AT 1200 ECT

The following is the CANANews and SPORTS Schedule for Wednesday, November 5, 2025.

KINGSTOWN – The two main political parties here have signed a Code of Ethical Political Conduct ahead of the November 27 general elections.

NEW YORK – Caribbean Democratic legislators in New York easily won re-election in Tuesday’s general elections, riding on an unusually large voter-turn out as Democratic Socialist, Zohran Mamdani, swept into the Office of the Mayor of the City of New York.

SCARBROUGH – Prime Minister Kamla Persad-Bissessar is warning members of the fisherfolk community not to venture beyond the territorial waters of Trinidad and Tobago, reiterating the country’s support for the United States war on drugs in the region.

PARAMARIBO – The Suriname government says it will resume negotiations with the Chinese bauxite company, Chinalco, after announcing the establishment of a special negotiating committee.

BASSRETERRE – The Bureau of Standards Wednesday issued a mandatory national recall for the product ‘Milonga – Cannabis Infused Tea: Yerba Mate’ (ALL FLAVOURS), saying it has not been approved for trade or distribution in the twin island Federation.

SPORTS:

AUCKLAND -The West Indies drew first blood in their five-match T20I series against New Zealand, defending a modest total of 164 to claim a nail-biting seven-run victory at Eden Park here on Wednesday.

Next season prospects positive, main goal to have more visitors in winter Koumis says from London

The prospects for the next season are extremely positive, Tourism Deputy Minister Kostas Koumis said on Tuesday evening, pointing out that the main goal now is to increase visitor numbers during the winter season, something they are working very hard to achieve.

Cyprus has a strong presence once again at the World Travel Market, the international tourism exhibition taking place at London’s ExCeL and one of the largest events in the global travel industry, featuring more than 5,000 exhibitors from 180 countries and attracting around 45,000 tourism professionals from all over the world.

The first day brought optimistic messages for Cyprus. As Koumis – who attended the exhibition – noted, his series of meetings with tour operators and airlines concluded with complete satisfaction, and the prospects for the next tourism season are also extremely positive.

In statements to the media late on Tuesday, Koumis expressed optimism about Cyprus’s ability to attract visitors year-round, including during winter.

‘We are here every year as part of the exhibition, meeting with our country’s strategic partners. The feedback we received from these discussions was very positive – both regarding how much our visitors enjoyed their stay over the summer and how we can prepare to make next year, 2026, just as successful. From our meetings, it’s clear that everyone is very pleased,’ Koumis noted.

He also said that the Deputy Ministry of Tourism and the government ‘will do everything possible to maintain this momentum, aiming for even further growth of our tourism product.”

“What matters most to us is strengthening the winter tourism period,’ the Minister said, stressing that ‘this summer we essentially reached the peak – something clearly reflected in the figures and various assessments.”

According to Koumis, “it is worth noting that Cyprus recorded the highest increase in hotel overnight stays among all European countries between 2023 and 2024. We are also the country with the highest revenue growth among all Mediterranean European nations,’ the Deputy Minister underlined.

Finally, he highlighted that ‘our main goal now is to increase visitor numbers during the winter season – something we are working very intensively to achieve,’ he concluded.

CARIBBEAN-WEATHER-Caribbean transitions into the dry and cool seasons in December

The Barbados-based Caribbean Climate Outlook Forum (CariCOF) Wednesday said there will be a decrease of tropical cyclone activity and of excessively hot and humid days in November as the Caribbean transitions into the dry and cool seasons in December.

It said that a shift to La Niña conditions, characterized by cooler-than-average sea surface temperatures in the central and eastern equatorial Pacific Ocean, caused by stronger trade winds, combined with continued unusual warmth in the Subtropical North Atlantic, increases uncertainty in the seasonal forecast.

‘Nevertheless, the outlook suggests steady decrease of tropical cyclone activity and of excessively hot and humid days in November, high rainfall intensity and shower frequency in the ABC Islands, Belize, the Lesser Antilles through November or December, resulting in high to extremely high potential for flooding, flash floods, cascading hazards and associated impacts.’

CariCOF, which released its latest edition of Caribbean Climate Outlooks looking at the three month period November to January next year, said that the outlook for the region also suggests increasing dry spell frequency in The Bahamas and Greater Antilles as well as the appearance of drought impacts by the end of January in locations with ongoing drought.

It said that as at the end of October, severe or short term drought has developed throughout the Windward Islands, as well as in Aruba, parts of the Dominican Republic, Guadeloupe, while long term drought will occur in southwest Dominica, northern Jamaica, parts of northern Guyana, St. Croix and St. Vincent.

Cyprus Stock Exchange

The Cyprus Stock Exchange (CSE) All Share Index closed at today`s stock exchange meeting as follows:

MEETING DATE: 05/11/2025

INDICES BASE VALUES: FTSEMed=5000, OTHERS = 1000

EURO (pound )

TRADED VALUE 1.078.419,53

INDEX

VALUE

%DIFF.

VALUE

FTSE/CySE 20

170,320

0,050

1.077.157,810

MAIN MARKET INDEX

229,090

-0,250

1.033.675,020

INVESTMENT COMPANIES MARKET INDEX

3.193,130

0,610

42.667,140

CSE GENERAL INDEX

280,810

0,050

1.077.260,530

HOTELS INDEX

1.903,270

1,960

931,000

ALTERNATIVE MARKET INDEX

1.868,110

0,630

44.744,510

CRICKET-NZL/WIS-SCOREBOARD New Zealand vs West Indies – 1st T20I

Scoreboard of the first T20 International between New Zealand and the West Indies here on Wednesday at the Kia Oval in Eden Gardens.

WEST INDIES

Brandon King c Foulkes b Duffy 3

Alick Athanaze c Chapman b Jamieson 16

Shai Hope b Foulkes 53

Ackeem Auguste c Ravindra b Neesham 2

Roston Chase b Duffy 28

Rovman Powell c +Conway b Foulkes 33

Jason Holder not out 5

Romario Shepherd not out 9

Extras (6lb, 9w) 15

TOTAL (six wickets; 16.5 overs) 164

Did not bat: Matthew Forde, Akel Hosein, Jayden Seales

Fall of wickets: 1-4, 2-28, 3-43, 4-97, 5-146, 6-148.

Bowling: Duffy 4-0-19-2, Jamieson 4-0-30-1, Foulkes 4-0-35-2, Neesham 3-0-23-1, Santner 4-0-40-0, Ravindra 1-0-11-0.

NEW ZEALAND

Tim Robinson c Athanaze b Shepherd 27

Devon Conway c Forde 13

Rachin Ravindra c Holder b Hosein 21

Mark Chapman c Forde b Chase 7

Daryl Mitchell c Forde b Seales 13

Michael Bracewell c +Hope b Seales 1

James Neesham c Forde b Chase 11

Mitchell Santner not out 55

Zak Foulkes c and b Chase 1

Kyle Jamieson c Holder b Seales 2

Jacob Duffy not out 1

Extras (lb 2, w3) 5

TOTAL (nine wickets; 20 overs) 157

Fall of wickets: 1-30, 2-48, 3-70, 4-83, 5-87, 6-88, 7-100, 8-102, 9-107.

Bowling: Seales 4-0-32-3, Forde 4-0-32-1, Holder 4-0-35-0, Shepherd 3-0-26-1, Chase 4-0-26-3, Hosein 1-0-4-1.

Toss New Zealand, elected to field.

Result: West Indies won by seven runs, lead five-match series 1-0.

Player-of-the-Match: Roston Chase.

Umpires: Shaun Haig, Wayne Knights

TV Umpire: Corey Blacks

Reserve Umpire: Chris Brown

Match Referee: Phil Whitticase