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Government Pressing Ahead With Plans To Liberalize Electricity Sector


Wednesday, June 4, 2014 11:30 AM - George's, Grenada
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ST. GEORGE’S, GRENADA, JUNE 4, 2014 - GIS: Government continues in its efforts to liberalize the Electricity Sector in an attempt to significantly reduce the high cost of the commodity, which has been a challenge to national development.

The liberalization of the sector has been making the rounds at the ongoing constituency forums put on by the government. The forums are designed to solicit what government officials say is the valuable input of nationals in the construct of the new economy.

Bowen says that a serious attempt to buy out the 61% share of WRB in the Grenada Electricity Company (GRENLEC) did not happen because of the high price it is offering. But he indicates that it does not matter whether WRB go or stays in the country, because government is changing the electricity landscape by opening up the sector to provide competition, which will lower the cost of the commodity.

He said that they are delivering as promised in the elections campaign. “I want to tell you that government is committed to opening up the electricity sector, so that you can get competition in the generation of electricity.

We promised this during our election campaign and are delivering as promised”, he said indicating that they are moving to liberalize the sector as was done with telecommunications. “We are not asking WRB to leave they can stay and run the company; but that has nothing to do with other generating companies coming”, Bowen points out.

The Communications and Works Minister foresees positive developments as a result, indicating that he is expecting the advent of generating companies providing renewable energy with the development of Solar Panels and other systems. Bowen challenges the current situation where people especially in the south, who have Solar Panel systems are required to pass the electricity generated to GRENLEC, before it is sold back to them.

“The mechanism will be changed. The regulatory body will determine how much they purchase from you and at what price”, he said stating that legislation has been enacted across the Eastern Caribbean with the formation of (ECERA) the Eastern Caribbean Electricity Regulatory Authority, to regularize the operations of electricity In the OECS. “It doesn’t matter if WRB goes or stays; they will have to abide by the rules, just as we did with the telecommunications sector”, Bowen said. He foresees a significant reduction in cost




 

 

 

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