(CNS): Regional telecommunications company Flow has been fined $400,000 by the Utility Regulation and Competition Office (OfReg) after breaching its licence. Flow increased its business customer rates from $30 to $34.99 from January 2019 to April 2022 without approval. OfReg also said the firm failed to comply with its obligation to provide the regulator with its quarterly data report.
In a relatively rare show of its teeth, which it has under the Regulation and Competition Act, OfReg imposed the fine, which Flow has paid, for a “serious breach” of its licence for the unapproved price increase and delivered a warning for the data reporting breach.
Sonji Myles, OfReg Executive Director for Information, said that licensees must comply with the terms of their licence and the laws of the Cayman Islands.
“As the regulator for the utilities sectors, it is our job to protect consumers and ensure licensees…
The post Telecom supplier fined $400k over price hike : Cayman Information Service appeared first on CaymanMama.com.
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