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The Energy Action Plan complements the Policy and defines specific targets for the period 2009 to 2030, including the following: • Produce 30 percent of electricity from renewable resources (including hydroelectric power) by 2015 and 60 percent by 2020 • Reduce the projected increase in peak demand by 5 percent by 2015 and 10 percent by 2020 • Reduce projected electricity generation by 5 percent by 2015 and 15 percent by 2020 • Reduce electricity losses to 7 percent by 2015 and 5 percent by 2020 Additional measures that the Energy Action Plan calls for (there are 40 in total) include: • Requiring the development of utility- scale renewable energy projects, either by VINLEC or IPPs • Implementing a net-metering policy to increase the supply of power from distributed generation170 The government signaled the importance of geothermal development in the Saint Vincent and the Grenadines National Economic and Social Development Plan 2013–2025. In the plan, Objective 2 for energy is “to encourage exploration and increased utilization of renewable energy technologies” and one of the strategic interventions for this objective is to “explore the feasibility of geo-thermal energy.”171 Laws and regulations governing the electricity sector The Electricity Supply Act—which was passed in 1973 and amended in 1974, 1976, 1978, 1980, and 1987172—governs electricity supply in Saint Vincent and the Grenadines. It grants VINLEC an exclusive license for supplying electricity and gives it responsibility for issuing licenses to other parties that wish to generate, distribute, or transmit electricity in the country. This is an important provision because VINLEC does not operate on some of the smaller inhabited Grenadines. However, VINLEC has not established a procedure that IPPs can follow to obtain a license. The ESA also establishes the tariff-setting mechanism. Either the prime minister or VINLEC can suggest a tariff adjustment at any time. If the parties disagree on a suggested tariff, they jointly appoint an arbitrator to determine the tariff. The ESA set the initial tariffs for VINLEC’s services (which are no longer the tariffs used), but did not create a formula for adjusting tariffs over time. In November 2012, the government prepared the Geothermal Bill with support from the Clinton Climate Initiative.173 The legal framework governing the exploration and exploitation of geothermal resources is contained in the Geothermal Bill, approved by Parliament in August 2015. 170. Government of Saint Vincent and the Grenadines, “Energy Action Plan for Saint Vincent and the Grenadines: First Edition,” January 2010, accessed July 29, 2015, http://www.gov.vc/images/stories/pdf_documents/svg%20-%20energy_action_plan_svg_first%20 edition.pdf. 171. Government of Saint Vincent and the Grenadines, “National Economic and Social Development Plan 2013–2025,” January 2013. 172. The Electricity Supply (Agreement) Act of 1984 ratifies a guarantee by the Government of Saint Vincent and the Grenadines on behalf of VINLEC, for a loan in the form of debentures, to the Commonwealth Development Corporation. This debenture is no longer outstanding and this act is therefore spent. 173. Japan International Cooperation Agency and West Japan Engineering Consultants, Inc., “Study of Situation for Geothermal Energy Development” (April 2014). 83PDF Image | Unlocking Geothermal Power Eastern Caribbean Powerhouse
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