Caribbean Energy: Macro-Related Challenges

By Arnold McIntyre, Ahmed El-Ashram, Márcio Valério Ronci, Julien Reynaud, Natasha X Che, Ke Wang, Sebastian Acevedo Mejia, Mark Scott Lutz

March 8, 2016

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Arnold McIntyre, Ahmed El-Ashram, Márcio Valério Ronci, Julien Reynaud, Natasha X Che, Ke Wang, Sebastian Acevedo Mejia, and Mark Scott Lutz. Caribbean Energy: Macro-Related Challenges, (USA: International Monetary Fund, 2016) accessed November 12, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

High energy costs contribute to dampening Caribbean competitiveness and potential growth. This paper overviews power sector challenges and takes stock of national and regional strategies to address them. It presents recommendations to move the energy agenda forward based on analyses of macro-aspects of energy reform. These include: i) quantitative assessment of the impact of energy costs on growth and competitiveness; ii) evaluation of gains from implementing announced renewable energy and energy efficiency targets; and iii) analysis of the impact of energy investments on debt sustainability. The paper argues for a bigger role for the private sector in energy reform and discusses prerequisites for good public-private partnerships.

Subject: Economic sectors, Energy prices, Energy sector, Environment, Oil prices, Prices, Public debt, Renewable energy

Keywords: Capital cost, Caribbean, Core inflation, Cost saving, Debt Sustainability, Economic Growth, Electric energy, Energy Efficiency, Energy efficiency cost curve, Energy investment, Energy prices, Energy Reform, Energy sector, Financing terms, Fuel cost recovery mechanism, Generation cost assumption, Global, Infrastructure, Net exporter, Oil price, Oil price development, Oil Price Shocks, Oil prices, PPP, Public Investment, Recovery mechanism, Renewable Energy, WP

Publication Details

Pages:

67
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2016/053
Stock No:

WPIEA2016053
ISBN:

9781513560908
ISSN:

1018-5941

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