Grenada on track towards electricity sector liberalization

Public Utilities Minister Gregory Bowen has given an assurance that no effort will be spared in moving forward the process of liberalizing the electricity sector in Grenada.

The initiative is one that will also be undertaken by other OECS (Organization of East Caribbean States) member states.

In making his contribution to the 2013 Budget last Friday, Bowen said that US$1.4 million is earmarked from the World Bank to facilitate the liberalization of the electricity sector.

“I want to assure the nation that a steering committee will be formulated and become active in ensuring we work with the other countries for the liberalization of the electricity sector,” he said.

The minister added that initial indications are that, if the system remains the same, a reduction in electricity rates will not be realized.

Bowen said the wind turbine project in Carriacou will be pushed with representation from the MP of that constituency, Elvin Nimrod.

“This is over €3 million (US$4 million) grant to Grenada, though the Grenada Electricity Services Company is putting some funding into it, but we want to ensure that the lease does not go to the detriment of Grenada, Carriacou and Petite Martinique,”Bowen said.

Source: Grenada Information Service