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program for biofuels made from used cooking oil (NEPC 2008, p. 31). The Bahamas might be an ideal site for ocean-based RE technologies. Ocean thermal energy could be exploitable in the steep drop-offs of the Bahamas Bank, as could tidal wave and other sources (NEPC 2008, pp. 8–9). In November 2011, the Bahamas announced its commitment to exploring the viability of installing an ocean thermal energy conversion (OTEC) plant in its territorial waters, and signed a MoU with a developer for the assessment of building one or more OTEC plants (Sciaudone 2011). 3.2.5 Interconnections A few local interconnections exist between islands, but their extent and locations are not reported (Wilson 2009, p. 31). 3.2.6 Energy Policy Framework 3.2.6.1 Background The Bahamas as a CSEP project country and member of the Inter-American Development Bank (IDB) has received support from these entities in the development of a national energy policy. The IDB contracted the German consulting firm Fichtner to review the first national energy policy (NEP) of the Bahamas drafted in 2008. From the findings of this review, the Government of the Bahamas, through its National Energy Policy Committee revised its NEP. Furthermore, wind resources are being measured on Grand Bahama Island, but interest in renewable energy generally has been tepid across the nation. 3.2.6.2 Energy Sector Regulatory Framework Analysis The Fichtner report, Strengthening the Energy Sector in the Bahamas: Preliminary Review of the Energy Sector Framework (2010), clearly outlines the governance framework for energy in the Bahamas. It reviews the present electricity sector framework, presents options for a new sector framework, and outlines an appropriate legal and regulatory framework. 3.2.6.3 Legal and Regulatory Framework 3.2.6.3.1 Electricity Sector Framework The review conducted analyzes key instruments and gives an overview of the regulatory framework, including The Electricity Act (EA), Out Islands Electricity Act (OEA), and the Hawksbill Creek Agreement (HCA). See Appendix A for more details on relevant legislative, policy, and regulatory provisions. Regarding the Electricity Act (1956), it establishes the Bahamas Electricity Company (Section 3), a wholly owned government entity, and grants it exclusive power to ”purchase, generate, transmit, transform, distribute and sell energy either in bulk or to individual consumers” (Section 12(1)). The BEC’s key functions involve providing electricity at reasonable prices within its area of supply (Section 12(1)). Given the Bahamas’ geography it would prove very difficult for the BEC to supply electricity to all the inhabited islands, and so it does not. The BEC supplies electricity to only a few—the Family Islands—and for the others the minister empowered by the Out Islands Electricity Act grants licenses for the construction and operation of small power plants. Regarding financial incentives for renewables, the CREDP Baseline Study indicates that, under the Third Schedule, the Act stipulates that energy technologies purchased by the BEC are tax free. The study, however, indicates that “additional legislation which allows tax-free status for renewable technology purchased by entities other than BEC could provide a meaningful fiscal incentive for the further development of renewable energy technology” (CREDP 2009). 32PDF Image | Energy Policy and Analysis Caribbean
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