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Policies in the energy sector In June 2010, the Cabinet of Saint Lucia approved the National Energy Policy, which aims to use market forces to lower the cost of electricity by exploiting renewable energies and reducing Saint Lucia’s dependence on imported oil. The policy also aims to achieve higher energy security and “minimize negative environmental effects from the energy sector.”397 The policy proposes the following reforms: • Updating renewable energy targets— The policy establishes new renewable energy targets to 5 percent of the electricity generated in 2013, 15 percent in 2015, and 30 percent in 2020. • Opening the sector and encouraging private participation—The policy establishes a plan for opening the sector. Under the plan, the government will allow the entry of IPPs. However, the government would need to amend the ESA to do so because the ESA gives LUCELEC exclusive license for electricity generation. • Establishing an independent regulatory commission for the electricity sector—The policy proposes establishing a commission to regulate the electricity sector. The commission would be responsible for designing the tariff structure, setting tariff levels, monitoring standards on quality of service, and advising on issuing of licenses to IPPs. It would also establish and monitor the tendering processes for IPPs, and act as an arbitrator for disputes in the sector. • Reforming the tariff design—The policy proposes reforming the tariff design. The new electricity tariff would be designed to be cost-reflective, include an indexation of fuel cost fluctuations, an adjustment for inflation, and an incentive factor for productivity improvements. The new tariff would also take into account the long-run marginal cost of supply for each customer category, the voltage level, and the costs for supplying electricity to consumers at different times of the day. In addition, cross-subsidies would be minimized, and the government would not be entitled to any special discounts.398 In addition to the policy’s proposal to establish an independent regulatory commission, Saint Lucia has been actively working towards establishing the Eastern Caribbean Energy Regulatory Authority (ECERA). If ECERA is implemented, it would serve as an advisor to national regulators. In its 2014 Budget Statement, the government reaffirmed its commitment to expanding the use of renewable energy in Saint Lucia. Specifically, the government presented its plan for reforming the electricity sector and increasing the use of renewable energy. The 2014 Budget Statement includes the following objectives: • Reforming the energy sector to reduce Saint Lucia’s reliance on fossil fuels for generating electricity and reducing the cost of electricity to consumers • Unbundling the generation segment and allowing IPPs to enter the renewable energy sector • Producing 35 percent of total electricity generated from renewable sources by 2020399 Laws and regulations governing the electricity sector The most important law in Saint Lucia’s electricity sector is the ESA of 1994, which was amended in 1996, 2001, and 2006. The ESA is currently under review. The government’s objective in revising the ESA is to create a legal framework that facilitates the participation of independent power producers and expands renewable energy. The government expects to have the Draft Electricity Supply Bill ready by September 2015.400 The ESA lays out the structure of the sector and sets out the tariff-setting mechanism. It grants LUCELEC the exclusive right for the generation, transmission, and distribution of electricity until 2045. However, one clause of the ESA allows the government to buy out this exclusive right in 2020 (after 55 years) if it provides two years’ notice.401 397. Government of Saint Lucia, Ministry of Physical Development and the Environment, “Saint Lucia National Energy Policy,” Article B-6, January 2010, accessed October 31, 2014, http://www.credp.org/Data/STL_NEP_Jan2010.pdf. 398. Ibid. 399. Government of Saint Lucia, Ministry of Finance, Economic Affairs, and Planning, “2014 Budget Statement,” pp. 40–41. 400. Anthony Sammie, “Energy Sector Legislation,” Government of Saint Lucia Website, August 4, 2015, accessed August 4, 2015, http://www.govt.lc/news/energy-sector-legislation. 401. Government of Saint Lucia, “Electricity Supply Act,” Chapter 9.02, Revised Edition of 2008, Part II, Sections 4–5. Chapter 9.02 of 2008 is a revised edition of the ESA, and contains a consolidation of the ESA of 1994 and its four amendments. 174PDF Image | Unlocking Geothermal Power Eastern Caribbean Powerhouse
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