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3.6.1 Energy Sector Outlook 3.6.1.1 Energy Governance Stakeholders 3.6.1.1.1 Government Agencies The Ministry of Physical Development and the Environment drafted the island’s recent national energy policy (Ministry of Physical Development and the Environment 2010), which was approved in June 2010 (CREDP-GTZ 2010). The NEP calls for establishing an Energy Policy Advisory Committee and an Independent Regulatory Commission. The Energy Policy Advisory Committee is to engage private and public stakeholders in energy-policy discussions, and advise the government on policy instruments and strategies. The Independent Regulatory Commission has responsibility to issue licenses for the generation, transmission, and distribution of electricity; to set tariffs and rates; and to tender power investments (Posorski & Werner 2009, p. 73). 3.6.1.1.2 Utilities and Independent Power Producers St. Lucia Electricity Services Limited (LUCELEC) holds a universal license for generating, transmitting, distributing, and selling electricity until 2045, according to the 1964 Power Supply Act. Self-generation is allowed by the 1994 Electricity Supply Act (Posorski & Werner 2009 p.72). Independent power producers with prices that are less than avoided costs are permitted by agreement with LUCELEC (Loy & Farrell 2005, p. 38). Solar St. Lucia Limited is an IPP operating several distributed PV demonstration systems (LUCELEC 2010). United States–based IPP Qualibou Energy Inc. recently announced an agreement with the government of St. Lucia to develop geothermal projects on the island (Kessler 2010). 3.6.2 Electricity Market LUCELEC is publicly owned, with 20% of shares owned by Emera, a Canadian utility holdings company (Emera 2008), 20% by Trinidad-based First Citizens Bank Limited, 16% by the National Insurance Corporation of St. Lucia, 16% by the Castries City Council (capital of St. Lucia), and 12% by the Government of St. Lucia. LUCELEC’s annual financial and operations statistics are available from 1999 to March 2010 (LUCELEC 2010). The Electricity Supply Act of 1994 guarantees the utility a fixed return on its investment, and allows it to pass on the cost of fuel through surcharges (Loy & Farrell 2005, p. 37); this is termed a “cost of service” utility (Emera 2008). Because of this structure, the company is not exposed to market risks (i.e., fuel- price volatility), and therefore has little incentive to take internal risks (i.e., RE investments). Regarding geothermal production, for example, LUCELEC said it “does not intend to go into this risky explorative undertaking itself, in order to protect consumers from such ventures that may negatively affect its tariff.” During the early 2000s, however, it maintained a policy of being receptive to integrating RE sources into the grid at a medium run cost that is competitive with alternative feasible options that are available to the Company from its own generation and/or from other parties. In other words, the Company will purchase this source of power from any third party at a price that is equal to or lower than the cost at which the Company can generate power (LUCELEC 2007, p. 8). 75PDF Image | Energy Policy and Analysis Caribbean
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