After five years at the helm of the Office of Utilities Regulation (OUR), J. Paul Morgan has decided to step down.

Morgan has informed Prime Minister Bruce Golding of his decision not to renew his contract and to leave office by the end of May.

Morgan, who was first appointed director general in December 2002, has already met with the staff of the OUR to inform them of his decision.

At the meetings, he noted that his predecessor, Winston Hay, guided the OUR through its first five years and having led the organisation for the following five years, he believes it is time for him to step aside.

Morgan served as deputy director general from 1997 to 2002. Prior to that, he was a member of the OUR's Preparation Unit.

Under the OUR Act, current Deputy Director General Raymond Silvera, would act as chairman of the office until a director general is appointed.

The OUR was established by Parliament in 1995 to regulate the operations of utility companies.