CASTRIES, Saint Lucia — The Government of Saint Lucia is moving to set up an independent utility regulator and on Wednesday brought together important public and private sector stakeholders to discuss the draft legislation.

It is seeking to have the National Utilities Regulatory Commission Bill enacted as law during the next session of Parliament, following the passage of the 2014-2015 national budget.

The legislation will lay the groundwork to facilitate multi-million dollar investments in the renewable energy sector to achieve the ambitious goal of generating 35 per cent of its electricity from renewable sources like wind, solar and geothermal energy by the year 2020.

Speaking at the opening of the consultation, Minister for Sustainable Development, Energy, Science and Technology, Senator Dr James Fletcher indicated that if Saint Lucia is to realise real investment in the energy and water sectors, there must be a degree of transparency and fairness in the regulatory environment, which will be facilitated by the proposed National Utilities Regulatory Commission.

“Given that we already have a utility regulator for the water sector, we think it makes sense to combine the two utility regulators for water and electricity into one national utility regulator, and this utility regulatory commission is supposed to provide transparent and independent regulation of a utility sector, which we hope in the very near future will not just be dominated by the Saint Lucia Electricity Services Limited, but by other power producers,” Fletcher said.

He added: “In fact, just this week, I have met with investors interested in wind energy development, waste to energy development and even development partners from as far away as New Zealand and Japan who want to assist us with our geothermal development portfolio, so there is a lot of interest in Saint Lucia`s power sector and the only way we can ensure that this interest translates into an orderly and well thought-out development of the energy sector is to have this independent regulator

in place.”

Once established, the National Utilities Regulatory Commission will be responsible for setting tariffs and ensuring quality service by utility companies.

Dr Fletcher also stated that government`s position is unwavering on the principle that the independent regulatory body must protect the best interests of consumers.

The Minister disputed claims that the move to establish an independent regulatory body essentially means that Saint Lucia was abandoning membership and support for the Eastern Caribbean Energy Regulatory Authority (ECERA) which was officially launched on November 7, 2013 in Grenada.

Dr Fletcher told the capacity audience at Wednesday’s consultation tha] the Government of Saint Lucia continues to support the philosophy of ECERA, but stressed that ECERA’s membership has to increase in order for it to become a viable entity.

He reiterated the Saint Lucia government’s position that ECERA requires a minimum of four OECS Member States to execute its mandate as a true Eastern Caribbean Energy Regulator.

“ECERA has to find a way to bring these other countries who have some interest, like St Kitts and Nevis, Antigua, and possibly Dominica onboard as members for it to be viable, otherwise this gestation period where ECERA is now incubating at the OECS Secretariat in the hope that in two years time it will emerge as a full adult that can take care of itself will not happen; what we will have is a stillborn infant, because ECERA as it is right now with just Grenada and Saint Lucia is non-viable,” Minister Fletcher explained.

Minister Fletcher advised that in addition to the need for ECERA to grow its membership, it would also have to find a way to articulate with the domestic energy regulators, similar to what obtains in the regional telecommunications sector.