Electricity Market Study PDF Print E-mail

EXECUTIVE SUMMARY

This interim report summaries the results of the work on WP1 to WP11, which were scheduled to be completed by the time of the interim report. It incorporates a number of changes based on the draft interim report supplied to the Energy Division in March 2017.

WORK PACKAGE 1: STAKEHOLDER CONSULTATIONS

As the report has to recommend the most appropriate market structure, support mechanisms and policy measures for a sustainable development and stable prices of renewable electricity in Barbados it was necessary to find out the most important objectives of the introduction of renewable energy held by important stakeholders in the energy sector in Barbados. Interviews with twelve key stakeholders in power generation and renewable energy were conducted asking for the important objectives seen and their relative importance. The interviews produced 56 different objectives, out of which 30 objectives were only mentioned by one stakeholder. Combining the results of all interviews (average weight times the frequency at which an objective was mentioned) lead to an ordered set of objectives by relative importance. The results are shown in Figure IR1 below. Besides the reliability of the power supply a low environmental impact, low cost of power, high employment generation, and reduction of imports to reduce to outflow of hard currency and to increase energy security are objectives of high importance to the interviewed stakeholders. Local participation and domestic ownership were mentioned as other important objectives. The public acceptance of the power supply was an other important objective relating to public involvement. One group of stakeholders with an agricultural background stressed the objective problems of agriculture need to be solved.  These important objectives can give orientation beyond the often used low cost of power and reliability of power supply for the design of energy policies and support mechanisms as well as for the discussion on the most appropriate market structure.

 

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