OLADE is developing the Bahamas’ Energy Balances

During January 11th to 15th, OLADE´s Coordination of Information and Training team visited The Bahamas to collect information regarding the energy sector. This initiative, carrying out by OLADE as a technical advisor of CELAC, comprehends a  series of Energy Balances Studies that has been developed for: St. Lucia, Dominica, St. Vincent and the Grenadines, St. Kitts and Nevis and Antigua and Barbuda. Eventually the collection of individual studies would allow OLADE to perform a regional study which will compare the different energy indicators for such countries.

OLADE as Technical Advisor of CELAC, launched this initiative that aims to reduce information asymmetries in the energy sector of CELAC by the development of energy balances of the 6 mentioned member countries. This project has the financial support of the Development Bank of Latin America, CAF.

OLADE’s team visited 17 public and private entities related to the energy sector, including the Ministry of Environment and Housing, the Statistics Department, the Central Bank, the Ministry of Tourism, the Bahamas Electricity Corporation, the main retailers of fuels and some of the largest consumers.

To develop the energy balances for the period 2010-2012, under OLADE´s Energy Balance methodology, all energy sources and flows used in the territory of the countries were considered, identifying the proceeds on supply, processing and consumption by type of product and economic activity.

The Bahamas, as many other countries in the Caribbean, depends on the importation of fuels to supply their local market. Based on the information collected, it will also be possible to identify the inventory of greenhouse gasses (GHG) and energy and economic indicators and investment opportunities in energy infrastructure.

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