Grenada says it will use funds provided by the World Bank to facilitate the liberalisation of its electricity sector as part of an initiative being undertaken by other countries within the Organisation of Eastern Caribbean States (OECS).

Public Utilities Minister Gregory Bowen told Parliament that EC$1.4 million from the World Bank would be used to facilitate the process.

"I want to assure the nation that a steering committee will be formulated and become active in ensuring we work with the other countries for the liberalisation of the electricity sector," Bowen said.

He added that initial indications are that once the system remains the same a reduction in electricity rates will not be realised.

ALTERNATIVE ENERGY

Bowen said the wind turbine project in Carriacou will be pursued as an alternative source of energy in Grenada.

"This is a over three million euros grant to Grenada, though the Grenada Electricity Services Company (GRENLEC) is putting some funding into it. But we want to ensure that the lease does not go to the detriment of Grenada, Carriacou and Petite Martinique," Bowen told legislators.

In his budget presentation last month, Prime Minister Dr Keith Mitchell said his administration would seek to expedite the implementation of a wind-energy project in Carriacou, which is a partnership involving the European Union and GRENLEC.

He said that by using wind turbines the project will meet about 60 per cent of Carriacou's electricity needs.

"Government is strongly committed to the increased use of renewable energy in Grenada. In this regard, private investment is essential and will be pursued as a major priority," Mitchell added.

CMC