BRIDGETOWN, Barbados, CMC – The Barbados authorities says it is going to desk new electrical energy provide laws this yr because it begins creating a brand new macro framework legislated for a brand new take a look at the power sector.
Power and Enterprise Minister Lisa Cummins informed the Barbados Chamber of Commerce and Trade’s Second Annual Inexperienced and Renewable Power Expo that the island “will need to have the flagship piece of power provide laws, not simply within the area, [but] on this planet, by the center of 2024.
“We intend to take that laws to Parliament and to start the method of making a brand new macro framework that’s legislated for a brand new look power sector,” she mentioned, noting that the federal government is dedicated to main within the democratization of power provide.
She famous that stakeholders and the general public might evaluate, remark, and submit their views on the draft Electrical energy Provide Invoice. The present mannequin had been a problem to the utility firm and a drag within the broader economic system.
“We should guarantee an inner power market that works for renewables. We will need to have an power market and an power grid match for renewables, not vice versa. Our market have to be designed and redesigned to completely combine renewables into the broader electrical energy market and take away the present obstacles we are able to see, really feel, and expertise.
“As the following step on this trajectory, I want to share that on Feb 19, we’ll start broader consultations on the Electrical energy Provide Act, and we’ll open that to wider consultations, so we’re able to obtain feedback from everybody who has an curiosity in so doing…. It permits us to have a dialog on this nation for the primary time round ideas like microgrids embedded within the laws…,” Cummins mentioned.
She informed the viewers that the hole between coverage and regulation have to be closed and warranted her Ministry would work by way of it.
Cummins mentioned an Power Transition Funding Plan had been developed, and the Built-in Useful resource and Resilience Plan (IRRP) had been amended.
“I now have in hand the ultimate model…which can now be the 2024 (IRRP), as a result of I’ve requested for 2 extra minor revisions for the good thing about non-technical individuals to be included within the documentation. However we now have, and I count on to be able to take to Cupboard, within the subsequent couple of weeks, a brand new Power Transition Funding Plan and a brand new IRRP.
“These are the coverage frameworks that may information our sector; these are the issues that sit on the…macro degree that then decide the place we go subsequent,” Cummins mentioned as she counseled the monetary establishments for his or her dedication to and funding within the renewable power sector.
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