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13.1 Overview of the Electricity Sector in Grenada 13.1.1 The electricity market in Grenada Grenada Electricity Services Ltd. (GRENLEC), a private vertically integrated utility, has exclusive license to provide electricity services in the country. GRENLEC is overseen by the Ministry of Finance, Planning, Economic Development, Trade, Energy and Cooperatives, which monitors whether GRENLEC complies with the Electricity Supply Act of 1994. The ESA establishes the structure of and regulates the electricity sector. There is not a separate regulatory agency in place. The government has drafted, but not yet approved, the Geothermal Bill and the Geothermal Regulations.275 These documents would establish the regulatory framework for developing Grenada’s geothermal resources. Despite having a policy framework conducive to geothermal development, including a 20 percent target for domestic energy sources, the government has not yet implemented the measures called for in the National Energy Policy of 2011. In Grenada, GRENLEC is the sole, privately owned and vertically integrated provider of electricity services. GRENLEC’s total installed capacity was 48.6 MW in 2014, which is more than enough to meet peak demand of 29 MW. All of GRENLEC’s installed capacity runs on diesel.276 Installed capacity is spread over the three islands, but most of it is in Grenada. Consumers can sell the electricity they generate from renewable sources to GRENLEC. However, these self-generators account for less than 400 kW of generated electricity and 1 percent of demand.277 In 2014, peak demand in Grenada was 29 MW. GRENLEC supplied electricity to 46,478 customers.278 Total demand increased rapidly from 2005 to 2010, fell from 2011 to 2013, and rose slightly in 2014 (see Figure 13.1). The fall in demand was due to a stagnant economy and rising tariffs, which were driven by rising fuel costs. Demand grew by an average of 2 percent over the full period. In 2014, 56 percent of the demand was commercial, 38 percent was domestic, 3.2 percent was industrial, and 2.6 percent was street lighting.279 Demand from the domestic segment grew the fastest during 2005 to 2010, increasing at an average rate of 7 percent per year. Demand from the commercial segment grew at an average of 6 percent per year during the same period. 275. Government of Grenada, “Geothermal Resources Environmental and Planning Regulations,” December 21, 2011. 276. GRENLEC, 2014 Annual Report. 277. GRENLEC, “Customer Renewable Energy (RE) Interconnection Programme,” accessed October 30, 2014, http://www.grenlec.com/YourEnergy/RenewableEnergy.aspx. 278. GRENLEC, 2014 Annual Report. 279. Ibid. 124PDF Image | Unlocking Geothermal Power Eastern Caribbean Powerhouse
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