GOAL/VISION: Fundamental transformation of the energy sectors of the Member States of the Community through the provision of secure and sustainable supplies of energy in a manner which minimizes energy waste in all sectors, to ensure that all CARICOM citizens have access to modern, clean and reliable energy supplies at affordable and stable prices, and to facilitate the growth of internationally competitive Regional industries towards achieving sustainable development of the Community.
SUMAMRY OF BROAD POLICY ACTIONS: In order to realize the Goal/Vision for the energy sector of the Community, it is the Policy of CARICOM to:
1. Ensure increased energy security through timely access to adequate, reliable and affordable supplies of energy by all Member States of CARICOM.
2. Secure least cost hydrocarbon resources for each Member State and ensure that appropriate standards for petroleum and petroleum related products are introduced and enforced.
3. Diversify the energy sources through increased use of renewable energy in a manner that assures optimization with other sectors.
4. Ensure the sustainability of the electricity sector through increased use of renewable energy, improved legislative and regulatory framework and cross border trade of electricity generated from indigenous renewable energy sources.
5. Promote energy saving efforts in all sectors.
6. Promote fuel switching in the transportation sector to cleaner energy sources and encourage greater efficiency of energy use in the transportation sector.
7. Undertake the necessary reforms in a timely manner to encourage greater investment in the energy sector.
8. Ensure fair pricing and access to hydrocarbon resources by all Member States to improve the competitiveness of regional industries.
9. Ensure that energy is supplied and consumed in a manner that creates minimal adverse impact on the environment.
10. Build and strengthen the human capacity and skills as well as institutional capacity within the Region, encourage research and development and increase public education and awareness to ensure energy sector development.
11. Eliminate energy poverty and ensure access to clean, affordable and reliable energy supplies by all citizens of the Region.
12. Encourage sustainable energy practices within all other sectors and areas where there is linkage to energy use, such as agriculture, youth and culture, etc.
13. Establish regional and national targets for the reduction of greenhouse gas emissions in the energy sector and implement appropriate mitigation actions relevant to the energy sector.
14. Develop strategies to ensure the availability of energy supplies and products, a strategic response to any oil spill and the sustainability of energy services during any crisis.
15. Develop strategies to take advantage of opportunities for trade in energy services regionally and internationally.
