The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

THE high cost of energy in the Bahamas is “hampering” national development, a prominent environmental attorney arguing that this nation’s almost-zero renewables penetration showed reform opportunities were being wasted.

Romauld Ferreira, partner at Ferreira & Company, which specialises in consultancy and environmental issues, told Tribune Business at a recent meeting of the Rotary Club of East Nassau that it was time for a shift towards alternative energy sources.

Mr Ferreira, who with the German consultants, Fichtner, completed a CARICOM study on the energy laws and policies in seven Caribbean countries, said the Bahamas could simply tailor those regulations and recommendations to the Bahamian experience.

“What we did was draft the framework, which was the primary legislation that would liberalise the sector, and allow self-generation once you have a service provider’s license to generate, transmit or distribute electricity,” Mr Ferreira said.

“Then we drafted fuel and tariff regulations, then we drafted net metering legislation. All of that work was done, it was accepted by CARICOM and we did it in association with Fichtner, which is a well-established engineering firm, and they accepted our regulations. Now what we want to do is have the Government of The Bahamas look at these regulations, tailor it to the Bahamanian experience, our economic goals and move forward.”

Mr Ferreira added: “Right now, we pay more for electricity than most in the region. The cost of energy is hampering or national development. We need renewable energy. We have almost zero market penetration for renewables.

“We are wasting the opportunity. We can’t continue on as a country this way. Not because you’re making money selling oil means you can’t look towards the future. It’s time for the shift to happen, and civil society has to drive that shift.”