PDF Publication Title:
Text from PDF Page: 117
12.5 Recommended Changes to the Legal, Institutional, and Regulatory Framework The legal, institutional, and regulatory framework in Dominica should be updated to prepare the island for the introduction of geothermal generation. Having an independent economic regulator makes Dominica’s legal, institutional, and regulatory framework better placed to govern geothermal generation than that of other countries in the OECS. This will allow Dominica to make the necessary changes to the tariffs more easily. However, to prepare the legal, institutional, and regulatory framework for geothermal generation, the government should at least do the following: • The IRC should be trained on how to incorporate geothermal generation in the regulation. The IRC’s decision on the Tariff Regime for Dominica Electricity Services Ltd. 2009/004/D establishes the tariff- setting mechanism. It allows the IRC to set tariffs and will require that DOMLEC submit a detailed Rate Design Application in the upcoming years. The IRC should receive training on geothermal generation so it can assess the portion of DOMLEC’s rate application dealing with its geothermal PPAs and make a better tariff decision. The IRC should set a tariff that allows DOMLEC to recover the full cost of service, regardless of the fuel or technology used for generation. • Dominica should establish a clear framework governing geothermal resources. Dominica should have a legal framework that assigns ownership of geothermal resources, establishes a process for granting license to develop geothermal resources, and assigns responsibility for monitoring geothermal resources to a government body. One way to establish this framework is to approve the Geothermal Resources Development Bill (2013). This bill will establish the legal framework for exploring and developing geothermal resources. Another way to address some of these changes is to establish regulation through contracts. For example, the agreements between the government and the private partners could include obligations that ensure the protection and sustainable development of the geothermal resource. The agreement could mandate that an independent expert carry out periodic evaluations to monitor the environmental impact of the power plant. The IRC can then monitor the SPV’s compliance with contractual obligations. Any dispute arising from failure to adhere to contract obligations could then be handled by a regular court, an administrative court, or a special expert panel as applicable. Establishing regulation through contracts would only serve as a short-term solution to prevent delays in project implementation. There are some regulatory functions that cannot be covered through contracts and for which regulations and laws will need to be established. For example, the government will still need to develop the process through which licenses to establish a geothermal plant are obtained. 12.6 Economic and Financial Analysis of the Geothermal Project In this section, we assess whether the two phases of the geothermal project in Dominica are economically and financially viable. We first perform a cost-benefit analysis for each phase to determine whether it generates net economic benefits to the country. We then use the discounted cash flow method to evaluate whether each phase of the geothermal project is financially viable to investors. We conclude that both phases of the geothermal project are economically and financially viable. Therefore, we recommend that the government and investors proceed with developing both phases. We present our analysis and results as follows: • Cost-benefit analysis (Section 12.6.1) • Financial analysis (Sections 12.6.2 and 12.6.3) 12.6.1 Cost-benefit analysis We perform a cost-benefit analysis to determine whether the two phases of the geothermal project are economically viable. We conclude that both phases of the geothermal project in Dominica are economically viable and increase social welfare. The present value of the net economic benefits of Phase 1 is positive and equal to US$50 million (see Figure 12.6). Similarly, the present value of the net economic benefits of Phase 2 is positive and equal to US$511 million. Therefore, the government and donors should proceed with developing both phases of the project. 116PDF Image | Unlocking Geothermal Power Eastern Caribbean Powerhouse
PDF Search Title:
Unlocking Geothermal Power Eastern Caribbean PowerhouseOriginal File Name Searched:
Eastern-Caribbean-Geothermal-Powerhouse.pdfDIY PDF Search: Google It | Yahoo | Bing
NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
IT XR Project Redstone NFT Available for Sale: NFT for high tech turbine design with one part 3D printed counter-rotating energy turbine. Be part of the future with this NFT. Can be bought and sold but only one design NFT exists. Royalties go to the developer (Infinity) to keep enhancing design and applications... More Info
Infinity Turbine IT XR Project Redstone Design: NFT for sale... NFT for high tech turbine design with one part 3D printed counter-rotating energy turbine. Includes all rights to this turbine design, including license for Fluid Handling Block I and II for the turbine assembly and housing. The NFT includes the blueprints (cad/cam), revenue streams, and all future development of the IT XR Project Redstone... More Info
Infinity Turbine ROT Radial Outflow Turbine 24 Design and Worldwide Rights: NFT for sale... NFT for the ROT 24 energy turbine. Be part of the future with this NFT. This design can be bought and sold but only one design NFT exists. You may manufacture the unit, or get the revenues from its sale from Infinity Turbine. Royalties go to the developer (Infinity) to keep enhancing design and applications... More Info
Infinity Supercritical CO2 10 Liter Extractor Design and Worldwide Rights: The Infinity Supercritical 10L CO2 extractor is for botanical oil extraction, which is rich in terpenes and can produce shelf ready full spectrum oil. With over 5 years of development, this industry leader mature extractor machine has been sold since 2015 and is part of many profitable businesses. The process can also be used for electrowinning, e-waste recycling, and lithium battery recycling, gold mining electronic wastes, precious metals. CO2 can also be used in a reverse fuel cell with nafion to make a gas-to-liquids fuel, such as methanol, ethanol and butanol or ethylene. Supercritical CO2 has also been used for treating nafion to make it more effective catalyst. This NFT is for the purchase of worldwide rights which includes the design. More Info
NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
Infinity Turbine Products: Special for this month, any plans are $10,000 for complete Cad/Cam blueprints. License is for one build. Try before you buy a production license. May pay by Bitcoin or other Crypto. Products Page... More Info
| CONTACT TEL: 608-238-6001 Email: greg@infinityturbine.com | RSS | AMP |