This media house has learnt that on Monday, 21st February, Cabinet discussed the recent decision to remove the unsustainable subsidies from electricity tariffs in St Kitts, while bearing in mind the further negative impact that ongoing political unrest in North Africa and the Middle East can have on the price of oil; the local cost of electricity, the cost of doing business and the overall cost of living.
According to the most recent Post Cabinet Briefing, Prime Minister Dr. Denzil Douglas and Energy Minister, Dr. Asim Martin pointed to the immediate need to redouble efforts to bring renewable energy options – wind and geothermal – online.
Dr. Martin reassured the Cabinet that with the financial markets rebounding, “potential investors in our renewable energy projects, such as our wind farm projected slated for Belle Vue, will have better guaranteed financial support from lending institutions.”
Meanwhile, Prime Minister Dr. Douglas has informed that the prospect of geothermal electricity coming online within a year is a very real one.
“Our aggressive pursuit of new initiatives and support of ongoing initiatives in this area will yield truly beneficial results for the energy sector and for the overall economy and the quality of life for our people,” the Prime Minister advised.
(Contents used in this article were lifted from Post Cabinet Briefing)