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State Affairs

Petro Caribe Designed to Provide Energy Stability for Dominica

By Kimberly Benjamin – Q95fm News.

Government is reporting that work on the Petro Caribe tank farm located in Jimmit is now almost complete. The official commissioning ceremony for this assignment is listed to take place before the end of this year.

The plan is designed to smooth the progress of the Petro Caribe Initiative. Petro Caribe was created to relieve the energy load on the Caribbean and to directly supply countries with oil at market prices made reasonable through the use of favorable financing terms for participating countries.

Currenly most Caribbean countries are members of Petro Caribe with the exclusion of Trinidad and Tobago and Barbados. Meantime, the rise of petroleum products on the international market and the cost of fuel surcharge by DOMLEC are said to be the chief reasons for the high charge of electricity in Dominica.

Former Energy Minister Reginald Austrie says fuel does not attract VAT and the excise tax is stable. Energy Minister Charles Savarin says Government has devoted to doing all it can to trim down the price of electricity in Dominica.

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