Disclaimer: The views and opinions expressed by the author(s) do not represent the official position of Barbados TODAY.
by Michael Ray
There is too much “knee-jerk” and reactive behaviour retarding the positive growth and development of country Barbados.
Close to a half century, it has now come to light that the Public Service Act is antiquated, of worthless value, discriminatory, backward, inadequate, restrictive and other similar descriptions.
Unfortunately, the more recent Fuel Clause Adjustment regulation seems to fit the same description, if only for it’s discriminatory effect on potential investors.
The FCA regulation that allows the sole foreign-owned utility company on the island to purchase fossil fuels while billing consumers for the costs, must be reviewed and reconstructed to the benefit and not the disadvantage of RE producers.
For the overall national good, and to rid our society of a practice that is not fit for purpose, there must be re-arrangements to aspects of the Fuel Clause Adjustment.
Among other things, this regulation mandates private producers of renewable energy along with consumers of energy derived from fossil fuels to pay for the cost of fossil fuels purchased by the sole utility company for it’s production of energy.
Furthermore, the FCA discriminates against Renewable Energy producers who are contributing meaningfully towards:
• Zero Carbon Emissions.
• Cleaner Air and Water.
• A cheaper form of Electricity.
• The creation of new jobs.
• Reducing dependence on imported fossil fuels.
• The reduction in Foreign currency expenditure.
• Financial and economic growth at both the personal and national level.
Therefore, renewable energy producers should be segregated and not be part of a group creating the anomalous arrangement of contributing to renewable energy production yet contributing to the purchase and importation of fossil fuels.
It is not good to run with the hares and hunt with the hounds.
From a moral and productive standpoint, RE producers should be rewarded for their contribution towards a sustainable venture rather than be penalized by a Fuel Clause adjustment that supports the on-going debilitating purchase of fossil fuels.
The Cabinet of the Republic of Barbados along with the Regulators are encouraged to implement the following:
Remove RE producers from among the category of consumers using energy produced from fossil fuels.
Create another class of RE producer, consuming LESS energy than what is produced.
Abandon the Buy-All/Sell-All arrangement applicable to renewable energy producers.
Credit or Debit a segregated group of RE producers according to aggregates of production and consumption.
Apply the FCA only to customers who consume energy produced from fossil fuels.
With these initiatives in place, there is sure to be a group of highly incentivised individuals ready to invest and build-out a sustainable renewable energy sector as part of the Barbadian economy.
