The Renewable Energy Industry in CARIFORUM Countries

RENEWABLE ENERGY INDUSTRY STAKEHOLDER ASSESSMENT

TRINIDAD AND TOBAGO

has a staff of 7 persons to execute its RE related functions. There is a focus on utility-scale PV and potential wind. The lead Ministry’s relationship with the other external stakeholders is depicted in the diagram right. The LGM’s relationships are indicative of the RE environment in Trinidad and Tobago. RECs are not a part of the current focus and likewise, neither are the commercial financial institutions. This is expected to evolve as the sector develops and the requisite policies and regulations are established.

UTILITIES REGULATOR

PRIVATE SECTOR INSTITUTIONS

REGIONAL INSTITUTIONS

LEAD GOVERNMENT MINISTRIES

FUNDING AGENCIES

FINANCIAL INSTITUTIONS

HIGHER EDUCATION INSTITUTIONS

RENEWABLE ENERGY COMPANIES

Figure 3.72 | Relationships of Trinidad and Tobago’s Lead Government Ministries

3.15.2 | UTILITIES REGULATOR The regulator is the Regulated Industries Commission (RIC). It is an independent, statutory body established to monitor and ensure a high quality of utility services at fair and reasonable rates. It aims to ensure fairness, transparency and equity in the provision of utility services by regulating the delivery of services including the generation of electricity. These services include licencing, compliance, tariffs, studies of various types and facilitating competition between service providers where competition is possible and desirable. The RIC is also responsible for investigating customer complaints and managing IPAs. The UR’s stakeholder relationships are extrapolated from the other stakeholders. 3.15.3 | FINANCIAL INSTITUTIONS The financial institutions in Trinidad and Tobago have not been very engaged by the RE industry stakeholder. This low level of engagement is a result of the policy and regulatory environment along with the challenges of cost effectiveness of small scale RE solutions. Residents of Trinidad and Tobago still enjoy the lowest energy cost in the region. However, for individual use the banks evaluate RE loans as they would any other loan. Unless there is a change in the environment, it is unlikely for there to be any foreseeable significant role for the FIs in the RE Industry. The FI’s stakeholder relationships are extrapolated from the other stakeholders which interact with them.

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The Renewable Energy Industry in CARIFORUM Countries