- The Government will be seeking to promote private sector investment in the energy sector by updating the regulatory framework.
- The project seeks to improve energy efficiency and security in key areas of the economy.
- The project is funded by the International Bank for Reconstruction and Development and is scheduled to be completed in June 2015.
The Government will be seeking to promote private sector investment in the energy sector by updating the regulatory framework, preparing projects for investment decisions, and increasing the contribution of renewable energy in electricity.
To this end $393.7 million has been allocated in the 2014/15 Estimates of Expenditure for the Energy Security and Efficiency Enhancement project.
The proposed budget, which was tabled in the House of Representatives by Minister of Finance and Planning Dr. the Hon. Peter Phillips on April 3, will be reviewed by the Standing Finance Committee of the House from April 8 to 10.
The project seeks to: improve energy efficiency and security in key areas of the economy, including implementation of fuel diversification, through development of the gas strategy and fuel switching; and strengthen institutional and technical capacities in the Energy Division for policy and strategy formulation, investment planning, project and programme implementation, and sector regulation.
Some of the achievements up to February, 2014 include: evaluation of the 480 Mega Watt (MW) bid from the Jamaica Public Service Company Limited (JPS); rights awarded to construct 360 MW combine cycle power plant; completion of consultancy to examine carbon credit mobilisation for Liquefied Natural Gas and hydro projects; technical Management Specialist engaged by the Bureau of Standards (BSJ); Feed-in tariff Assessment for Renewable Energy contract completed; development of the Electric Power Sector Policy and Modernization of the Lighting Act completed; development of a Legal and Regulatory framework for the Gas Sector completed; and development of a Smart Grid roadmap for Jamaica completed.
For the 2014/15 fiscal year, the project will seek to initiate activities needed to commence expansion of testing chambers at the Bureau of Standards Jamaica (BSJ); complete feasibility studies for four potential Hydro sites; commence pre-feasibility and feasibility studies for six additional hydro sites; complete the Communication and Public Education Programme for the implementation of the National Energy Policy; and purchase a new Testing Chamber (and refurbishing of existing Testing Chamber) to handle Energy Efficiency Assessment for electrical appliances (including air conditioning units and small appliances) by BSJ.
Additionally, the project will see the purchase of Testing Equipment for BSJ; commence building modification works for housing the testing chambers at BSJ; develop a regulatory database for performance bench-marking ; develop and promote the small hydro sector; development of the National Capacity for Environmental Management; and identification and implementation of monitoring and benchmarking instruments at the Office of Utilities Regulation.
The project is funded by the International Bank for Reconstruction and Development and is scheduled to be completed in June 2015.