St. Vincent & the Grenadines Green Party

Articles

Fri 11th Mar 2022

SVG must become 100% renewable energy for electricity to reduce the cost of living

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Oil prices were already at a 7 year high, but with Russia invading Ukraine, the price of oil is rising even more. SVG must become 100% renewable energy for electricity immediately to reduce the cost of electricity. This will help reduce the cost of living and reduce the overheads that businesses have to pay.

This war started by Russia has created an urgent need for the introduction of long-term renewable energy production in SVG. We must rapidly end the use of oil for producing electricity in our country and turn to a 100% reliance on hydro, solar and wind. The days of high electricity bills would come to an end and it would reduce the price of electricity, making it affordable to low income families.

Warrant Officer Ivan Bertie O’Neal, who has a BSc (hons) in Accounting and Finance and Economics from Oxford Brookes, University, Oxford, England, an MSc in Macro –economic policy and planning in developing countries from the University of Bradford, England, and a Masters of Business Administration from the University of Leicester, England, very strongly contends that if we stop using oil to produce electricity, we will see a significant improvement in the quality of lifestyle for our entire country.

There would also be significant savings on our imports bill, providing a golden opportunity to cut our international exchange rate and increase our exports. This would drive up employment in several areas of our economy.

A Vincentian living in Cane Garden told Warrant Officer Ivan Bertie O’Neal that he cut his connection from VINLEC over one year ago and his savings are very high. This illustrates that our country can operate without the use of oil to produce electricity.

If we stop using oil and electricity becomes significantly cheaper, this would ensure that all the children of the poor could have electricity to enable them to read at night and do their home work.

A Green government would abolish the fuel surcharge and replace oil with renewable energy, making electricity virtually free. With electricity produced by solar, wind and hydro, electricity will be cheap. We would ensure that every household has access to mains electricity.

We would also abolish the Vinlec monopoly to produce electricity, so that Vincentians could set up electricity-producing companies. In order to help the growth of Vincentian companies producing electricity from renewable energy and private households wanting to install renewable energy equipment at their homes, all taxes and customs duties on renewable energy products and parts should be abolished immediately.

A Green government would cut the price of electricity by 50%. The first 200 KWh used each month will be free.
SVG is losing millions of dollars a year, because of the massive amount of oil that is imported to create electricity. This is killing our economy. If we stop producing electricity from oil and produce it ourselves in SVG from safe renewable energy, then there will be much more money circulating in the SVG economy. The renewable energy industry will create employment.

Given the high price of oil and Russia’s invasion of Ukraine, SVG must become 100% renewable energy for electricity immediately to reduce the cost of living.

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