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No incentives to save energy in Trinidad & Tobago



By Rapheal John-Lall

Petroleumworld 06 08 2018

Regulated Industries Commission (RIC) Executive Director Dr James Lee Young said yesterday that the rate review of the T&T Electricity Commission (T&TEC) is “absolutely critical” because the utility's current rates did not provide incentives for better energy use.

“We cannot operate sustainably at US5 cents per kilowatt per hour when everyone else is six to ten times that. There is no incentive for everyone to get LED's. There is a policy for water heaters, the capital cost of a solar water heater is $10,000 to $15,000. The average man in the street is not going to do that,” he said in his address on the opening day of the Energy Chamber's Clean Energy Conference at the Arthur Lok Jack Global School of Business, Mt Hope.

Lee Young, said T&T was behind other countries in terms of efficient energy use.

“There is absolutely no incentive for Joe Public at this point in time to conserve electricity or look at energy efficiency. Because of that, we at the RIC are aware of the role we play during this price review period,” he said.

Lee Young said the current price review was the first since one done over the 2006 to 2011 period which had brought T&TEC into balance in terms of its revenue.

“Since then, they have fallen behind the curve as they are basically operating with rates that are five years out of date and meanwhile, the inflation has increased,” he said

The RIC began the T&TEC rate review process last September and Lee Young said they had hoped to be completed by early July.

“We are nowhere near that. Basically we are delayed because we are still waiting for additional information from T&TEC,” he said.


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Story by Rapheal John-Lall from Trinidad & Tobago Guardian
06 08 2018

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