The Tribune

By ROCHELLE DEAN

One of the biggest issues facing The Bahamas is the reform of its energy industry.

The Bahamas’ energy saving woes are a direct consequence of the country’s incapacity to finance the industry. The country’s problems are 100 per cent administrative, while its energy saving inefficiencies are because it has yet to adopt proper energy saving policies while moving on to renewable ones.

According to the World Bank data report on energy, The Bahamas is last as it relates to energy policies.

In his article “Reforming the Bahamian Energy Sector”, The Tribune columnist Larry Smith also states that a report by the International Energy Agency, the Organisation for Economic Co-operation and Development and the World Bank subsidies impose an unsupportable fiscal burden on government budgets, encourage wasteful consumption, exacerbate price volatility by blurring market signals and undermine the competitiveness of renewables and more efficient energy technologies.

The country must ask itself how it can engage in renewable energy without first addressing its present energy inconsistencies. That will give a clear, concise understanding of how the Bahamas can promote and implement proper renewable energy practices and other sources of energy.

The Bahamas must now seek to upgrade its machinery, reform its administrative policies and aggressively seek donors who are willing to finance the improvement of the industry before seeking to outsource its energy resource. The country must also seek partnerships with countries which can aid and fund new forms of energy supply.

The Bahamas must recognise that its inability to provide a robust energy resource for its citizens places the country in a debilitated state of poverty.

In the past, The Bahamas has placed the management of its energy supply in the hands of foreign companies, which has been a disservice not only to new management but the country collectively.

The Bahamas government plays the biggest role in presenting research beyond the financial bottom line and must also work against the culture of entitlement that makes it hard for the country to attract the right foreign investors who appreciate the development of the country and sustainable development. The Bahamas must seek foreign entities to revive the domestic market, partner with them and seek to make proper decisions that affect the energy industry and will further enhance growth.

The state of the country’s energy industry and its reform comes with The Bahamas recognising that it must shift from being master players in the game of blame. Stakeholders must seek to invest in new machinery that will upgrade the energy industry and make staff accountable.

The government must bridge the gap between the need for upgraded equipment and a lacklustre ‘anything goes’ mentality toward the industry and the inability to offer exemplary service to the people.

The Bahamas must engage in energy reform which will give the country a navigated course towards newer energy saving policies and green forms of energy for the country - not just for a significant few. This will allow The Bahamas to take into consideration low emission energy strategies (LEDS) and further promote climate change practices that will impact the country significantly.

The country must begin to make the right energy-related decisions and move away from making decisions of convenience. The Bahamas is at a milestone where it must address its ability to access new equipment, properly maintain the equipment, new administrative policies and accountability to all stakeholders and actors within the industry.

Poverty alleviation begins with a proper analysis of energy reform.

Rochelle R Dean is a Bahamian scholar, research fellow and peer-reviewer and a theory writer of economics presently completing a Bachelors of Science dual degree in economics and public administration with Liberty University, Lynchburg, Virginia.