The Objective of the proposed Act is "to achieve, as far as possible, least cost, high quality, environmentally sustainable, secure, and affordable electricity service for the people of Bermuda."
Greenrock and BEST feel that it is important that Bermuda citizens are involved and informed in the current debate.
Greenrock and BEST support a transition to an electricity system which is 100% supplied by renewable energy. This is the best way to safeguard our future, to support jobs in a new industry supplying energy conservation technology and installing renewable energy, and to stop sending hundreds of millions of dollars each year overseas to pay for fuel. This is the best choice for our long-term economic interests.
We support the Objectives stated by the Government and believe that "least cost, high quality, environmentally sustainable, secure, and affordable electricity service" can best be achieved by applying the following principles in all energy decision-making, by all stakeholders:
1) Efficiency and conservation should be prioritized - this will reduce costs and make it more likely that we can take advantage of new technology. We believe that immediate investment in smart grid infrastructure is an important part of this effort.
2) Environmental Externalities should be costed into every electricity investment decision - the pollution and greenhouse gas emissions associated with continuing to use fossil-fuels will have an impact on Bermuda, and so "least cost" electricity should include these costs.
3) Standardized Power Purchase Agreements (PPAs) should be finalized immediately to facilitate non-traditional energy sources, which are likely to be lower cost and lower impact than burning fossil-fuels
What are some immediate implications of these principles? Liquefied Natural Gas (LNG), for example, may have a lower environmental impact than other fossil fuels (both during electricity generation and as a fuel for vehicles) but the full environmental and economic cost of extracting (including fracking) and bringing LNG to the island should be assessed and made public before a final decision is made. but the environmental ...cost of bringingLNG to the island " to "but the environmental ...cost of extraction (including fracking) and bringing LNG to the island "
With a view towards the future, we hope that Government, BELCO and all other stakeholders work to diversify our energy mix and incorporate more environmentally sustainable energy sources. Specifically in the short term, we encourage BELCO to be true to its promise to install "10,000 solar roofs" and to get started on that programme immediately.
Carol Dixon and Dr. Judith Landsberg, of Greenrock, stated that "this is an exciting time for Bermuda's energy suppliers and for consumers - we have the opportunity not only to dream about a future which is better than today, but to put in place the foundation for this future. In 15 years time we hope to be supplying all of our own energy - without relying on dirty fuel or supply chains which are at the whim of political changes and vested interests subverting the public interest."
Harry Masters of BEST states, "We welcome a framework for the electricity industry that allows new participants and lower-carbon technologies into the marketplace. Energy plays a massive role in our society, affecting the cost of living and doing business, the conditions of our local environment, and the dynamics of our global climate. Though our energy usage is relatively small compared to other nations, Bermuda as a small island will disproportionately experience the negative effects of climate change. For this reason we at BEST encourage the relevant policymakers to investigate how best to reduce fossil fuel use while ensuring electricity prices can sustainably support our economy and our people. This is a dynamic and exciting time for energy on our island and around the world, and we encourage everyone to give input for the future of our island.
Greenrock and BEST are working together on the future of our electricity supply. This needs to truly be a joint problem-solving effort with collaboration between all key stakeholders, so that we can collectively arrive at a strategy to facilitate renewable investment and deployment. In pursuit of this collective approach, the two environmental charities also call for the new Electricity Regulatory Authority to establish a public repository for all relevant data from all stakeholders, with public access.
Bermuda is a small jurisdiction and decisions on electricity policy and investment have a long-term impact, and large financial stakes, in which we are all involved.
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