CARICOM
ENERGY POLICY
In A Nutshell
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This is a Summary of the CARICOM Energy Policy which was approved by the Forty-First
Special Meeting of the COTED on ENERGY held 1 March 2013, in Trinidad and Tobago
The Goal/ Vision of the CARICOM Energy Policy
Fundamental transformation of the energy sectors of the Member States of the Community through the provision of secure and sustainable supplies of energy in a manner which minimizes energy waste in all sectors, to ensure that all CARICOM citizens have access to modern, clean and reliable energy supplies at affordable and stable prices, and to facilitate the growth of internationally competitive Regional industries towards achieving sustainable development of the Community
OBJECTIVES OF CARICOM ENERGY POLICY
In fulfillment of the Goal /Vision of the CARICOM Energy Policy and to assure access to
affordable, adequate, safe and clean energy products necessary for the development of Member States and for the consolidation of the CSME (established by the Revised Treaty of
Chaguaramas), the Community will develop a programme of regional actions in a coherent and comprehensive way in pursuit of the following objectives:
(a) sustainable and secure energy supplies through diversification of energy sources;
(b) accelerated deployment of renewable and clean sources of energy supplies
towards increased energy supply diversification and affordability;
(c) sustained growth of intra-Community trade in energy;
(d) increased energy efficiency and conservation in all sectors, including the
transportation sub-sector;
(e) establishment and enforcement of labeling and standards for the importation of
electrical appliances as well as standards for vehicles importation;
(f) increased investment in production, transformation and distribution of viable
energy resources;
(g) strengthening and enhancement of the human and institutional capacities in the
Community energy sector;
(h) programmed expansion of electricity generation, transmission, distribution and
trade;
(i) improved access to affordable energy by the poor and vulnerable;
(j) greater use of renewable energy for electricity generation as well as in the
transportation, industrial and agricultural sectors;
(k) coordinated approach to exploring and establishing an institutional framework
for leveraging financing mechanisms for the development of viable energy
resources;
(l) increased technology transfer and information sharing;
(m) established regional and national targets for emissions reduction with
corresponding mitigation actions;
(n) strategies for maintenance of adequate energy reserves in the event of disasters;
and
(o) Strengthened research, development and innovation efforts in energy sector
especially in areas of clean and renewable energy sources and technologies.
Quantitative Regional level targets for sustainable energy will be established in the context of the Caribbean Sustainable Energy Roadmap and Strategy (C-SERMS), based on rationalization of the potential energy resources and human and institutional capacity which will accompany the CEP and provide a implementation framework engaging all Member State and actors in the energy sector.
SUMMARY OF BROAD CARICOM ENERGY POLICY ACTIONS
In order to realize the Goal/Vision for the energy sector of the Community, it is the Policy of CARICOM to:
SECURITY OF SUPPLY AND FUEL DIVERSIFICATION (Chapter 1)
1. Ensure increased energy security through timely access to adequate, reliable and
affordable supplies of energy by all Member States of CARICOM.
EXPLOITATION OF HYDROCARBON SOURCES AND DEVELOPMENT OF FOSSIL FUEL MARKETS
(Chapter 2)
2. Secure least cost hydrocarbon resources for each Member State and ensure that
appropriate standards for petroleum and petroleum related products are introduced
and enforced.
RENEWABLE ENERGY (Chapter 3)
3. Diversify the energy sources through increased use of renewable energy in a manner
that assures optimization with other sectors.
ELECTRICITY SECTOR (Chapter 4)
4. Ensure the sustainability of the electricity sector through increased use of renewable
energy, improved legislative and regulatory framework and cross border trade of
electricity generated from indigenous renewable energy sources.
ENERGY CONSERVATION AND EFFICIENCY (Chapter 5)
5. Promote energy savings efforts in all sectors
ENERGY USE FOR TRANSPORTATION (Chapter 6)
6. Promote fuel switching in the transportation sector to cleaner energy sources and
encourage greater efficiency of energy use in the transportation sector.
ENERGY INVESTMENT (Chapter 7)
7. Undertake the necessary reforms in a timely manner to encourage greater investment
in the energy sector.
INTRA-COMMUNITY TRADE IN HYDROCARBON ENERGY SOURCES (Chapter 8)
8. Ensure fair pricing and access to hydrocarbon resources by all Member States to
improve the competitiveness of regional industries.
ENERGY AND THE ENVIRONMENT (Chapter 9)
9. Ensure that energy is supplied and consumed in a manner that creates minimal
adverse impact on the environment.
ENHANCEMENT OF HUMAN AND INSTITUTIONAL CAPACITY (Chapter 10)
10. Build and strengthen the human capacity and skills as well as institutional capacity
within the Region, encourage research and development and increase public education
and awareness to ensure energy sector development.
ENERGY ACCESS AND POVERTY ALLEVIATION (Chapter 11)
11. Eliminate energy poverty and ensure access to clean, affordable and reliable energy
supplies by all citizens of the Region poverty.
CROSS-CUTTING ISSUES (Chapter 12)
12. Encourage sustainable energy practices within all other sectors and areas where there
is linkage to energy use such as agriculture, youth and culture, etc.
ENERGY AND CLIMATE CHANGE (Chapter 13)
13. Establish regional and national targets for the reduction of greenhouse gas emissions
in the energy sector and implement appropriate mitigation actions relevant to the
energy sector.
ENERGY AND DISASTER PREPAREDNESS (Chapter 14)
14. Develop strategies to ensure the availability of energy supplies and products and a
strategic response to any oil spill and sustainability of energy services during any
crisis.
TRADE IN ENERGY SERVICES (Chapter 15)
15. Develop strategies to take advantage of opportunities for trade in energy services
regional and internationally.
PRINCIPLES GUIDING ACTIONS OUTLINED IN
THE CARICOM ENERGY POLICY
The CARICOM Energy Policy is guided by the following:
1. Community Mandates on Energy and Revised Treaty of Chaguaramas;
2. Focus on the Regional Level Energy Sector Challenges and Opportunities;
3. Recognition that Member States