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Nassau, The Bahamas – During his Keynote Address at the Opening of the Energy Summit, on November 7, 2024, Prime Minister and Minister of Finance the Hon. Philip Davis noted that the event was “an important moment for our country – a moment that we have been working toward since the very first days of this administration.”
“Our high energy costs affect every aspect of our lives – they limit our financial freedom, constrain our growth, and make everyday life harder than it should be,” Prime Minister Davis said, at the event held at the Baha Mar Convention Centre. “And this has been the case for far too long. We cannot – and will not – accept that the future of energy in The Bahamas should look like the past.
“We need a new way forward,” he added. “Reducing the cost of energy is not only a priority for this administration; it is a mission, an obligation, and a necessity. We know that change is urgent.”
Prime Minister Davis stated that, while the Bahamian people were resilient, they deserved better than an outdated energy infrastructure “that’s stretched beyond capacity, an infrastructure that can’t keep up with modern demands and that remains vulnerable to every storm and every price shock in the global fuel markets.
“Today, we are choosing a different future, a future where energy costs no longer weigh down Bahamian families and businesses, a future where The Bahamas leads in sustainable development, and a future where opportunity is within reach for all.”
Prime Minister Davis outlined his Government’s comprehensive approach to reforming the energy sector, which includes modernizing infrastructure, introducing utility-scale solar and battery storage, renewable microgrids in the Family Islands, introducing natural gas as a partner fuel, and implementing energy efficiency initiatives.
“These investments will ultimately reduce the cost of energy for everyone,” he said. “We are excited about the path ahead, and we are committed to seeing it through.”
Conclusion
In conclusion, Prime Minister Davis emphasized the importance of creating a sustainable energy ecosystem in The Bahamas, which would reduce the financial burden on Bahamians, increase energy independence, and create opportunities for economic growth.
FAQs
Q: What is the government’s approach to reforming the energy sector?
A: The government is taking a comprehensive approach, including modernizing infrastructure, introducing utility-scale solar and battery storage, renewable microgrids in the Family Islands, introducing natural gas as a partner fuel, and implementing energy efficiency initiatives.
Q: What are the benefits of reducing energy costs?
A: Reducing energy costs will create opportunities for economic growth, reduce the financial burden on Bahamian families and businesses, and increase energy independence.
Q: What is the timeline for implementing these changes?
A: The government is committed to seeing these plans through and has outlined a comprehensive approach to achieving its goals.
Q: What role will natural gas play in the government’s energy strategy?
A: Natural gas will play a critical role alongside solar in providing cleaner, cost-effective energy for the people of The Bahamas.
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