Caribbean Energy: Macro-Related Challenges
March 8, 2016
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Summary
High energy costs contribute to dampening Caribbean competitiveness and potential growth. This paper overviews power sector challenges and takes stock of national and regional strategies to address them. It presents recommendations to move the energy agenda forward based on analyses of macro-aspects of energy reform. These include: i) quantitative assessment of the impact of energy costs on growth and competitiveness; ii) evaluation of gains from implementing announced renewable energy and energy efficiency targets; and iii) analysis of the impact of energy investments on debt sustainability. The paper argues for a bigger role for the private sector in energy reform and discusses prerequisites for good public-private partnerships.
Subject: Economic sectors, Energy prices, Energy sector, Environment, Oil prices, Prices, Public debt, Renewable energy
Keywords: capital cost, Caribbean, core inflation, cost saving, Debt Sustainability, Economic Growth, electric energy, Energy Efficiency, energy efficiency cost curve, energy investment, Energy prices, Energy Reform, Energy sector, financing terms, fuel cost recovery mechanism, generation cost assumption, Global, Infrastructure, net exporter, oil price, oil price development, Oil Price Shocks, Oil prices, PPP, Public Investment, recovery mechanism, Renewable Energy, WP
Pages:
67
Volume:
2016
DOI:
Issue:
053
Series:
Working Paper No. 2016/053
Stock No:
WPIEA2016053
ISBN:
9781513560908
ISSN:
1018-5941
