The Bahamas Chamber of Commerce and Employers' Confederation's (BCCEC) second annual Bahamas Energy Security Forum will shed light on the cost of inaction and "sticking heads in the sand" over energy reform, according to a chamber head. Debby Deal, chair of the BCCEC's Energy and Environment Committee, stated that the burden of meaningful energy reform does not rest solely on the public sector's shoulders.
"At this year's forum I'm hoping that we are able to be open and upfront and not hide the issues that everybody wants to hide so that we can get to the bottom of what we really need to do as a country. The government doesn't need to do it. We as the private sector can do it," she said.
BCCEC CEO Edison Sumner stated that the forum would look at the impact of the government's energy and environmental policy on the National Development Plan.
"Considering the impact the cost and security of energy has on doing business in The Bahamas, not only for domestic and domiciled businesses, but also for foreign direct investors, it is necessary to examine our energy policy and strategy to find ways that we can collectively reduce the cost of energy in The Bahamas," he said.
This year's forum, entitled "Reality Check", will address the energy matrix's impact on the cost of doing business, the feasibility and financing options available for certain sources of alternative energy and the ultimate national cost of doing nothing to reform the sector. The chamber hopes to draw input and clarify positions, from government agencies, leading private sector entities and international observers.
Jack Roosevelt, managing director of BlueWave Capital and main sponsor of the event, said that the timing of the forum "could not have been better" in light of the suite of energy reform legislation recently passed in the House of Assembly without the support of the opposition. Those bills include the Electricity (Amendment) Bill, 2015; the Utilities Regulation and Competition Authority (Amendment) Bill, 2015; and the Electricity Rate Reduction Bond Bill, 2015.
"The bill that creates BPL and restructures BEC and the entire energy market here in The Bahamas is incredibly powerful and opens so many doors for the future for this country. It is just really up to us now to seize those opportunities and work with BPL and URCA to make sure that the vision that is voiced in that bill is really leveraged as much as possible for all of the country," said Roosevelt.
Deal also noted that the forum would address the country's health issues relating to national energy and environmental policy, including cancer and asthma. The Christie administration last year submitted its National Energy Policy, which calls for the country to meet 30 percent of its power needs through renewable energy sources within the next 20 years. Noted guest speakers include Deputy Prime Minister and Minister of Works Philip Davis, Thomas Timmons of Global Renewable Energy Law Practice of Canada and Wilson Korol of the United States' Energy Department. The forum will be held on December 9 at the British Colonial Hilton Hotel.
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