Technical Assistance to Support the Government of Trinidad and Tobago in the Energy Policy Public Consultation

March 18, 2011 Introduction Trinidad and Tobago is a twin-island state covering an area of 5,128 square kilometers with a total population of 1.3 million people, mostly located in Trinidad, the larger of the twin isles with 4,820 square kilometers of area and 95 per cent of the total population. Trinidad is rather heavily industrialized, while Tobago depends more on tourism and agriculture. The Government of the Republic of Trinidad and Tobago (GORTT) is in the process of crafting a Sustainable Energy Policy Framework (SEPF) that will maximize its natural resources and develop the use of renewable and sustainable energy. The SEPF will focus on (i) improving the efficient exploitation and end-use of indigenous fuel resources; (ii) supporting the widespread use of alternative energy, (iii) and promoting small energy businesses which will forge links with other sectors such as services and manufacturing. Specific provisions will be made to determine national renewable energy potential, encourage renewable electricity technologies such as wind, solar, hydro, biomass and geothermal, and to support energy efficiency and conservation initiatives. As part of the SEPF, the Ministry of Energy and Energy Affairs (MEEA) has scheduled a series of public consultations in January and February 20111 to solicit stakeholder feedback on new proposed energy policies. In order to support these consultations, the InterAmerican Development Bank (IDB) sponsored a short-term consultancy in December, 2010, to a) advise representatives from the Ministry of Energy and Energy Affairs on public engagement strategies and b) compile an updated background report on sustainable energy markets and policy in Trinidad and Tobago. This report reviews the results of this consultancy. Section 1 provides an overview of current energy production and consumption in Trinidad and Tobago. Section 2 reviews the structure and function of the key institutions in energy sector. Section 3 examines drivers for the development of a new energy policy and SEPF. Section 4 discusses barriers to the SEPF. Section 5 reviews ongoing and proposed sustainable energy policies and initiatives.

See http://www.energy.gov.tt/national_energy_policy_consultations.php?mid=77

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A separate draft report, filed under separate cover, addresses key outcomes of the IDB consultancy, including: Recommendations to update/amend energy policy in T&T to support the SEPF Recommendations for areas of work and focus that the IDB could pursue in order to support the SEPF A summary of key issues related to the public consultation process drawn from interviews with MEEA stakeholders Section 1. Energy resources, production and consumption Trinidad and Tobago is unique among the Caribbean island nations because of its domestic oil and natural gas resources. Trinidad and Tobago is the Carribeans only net energy exporter and is responsible for the largest share of the Carribeans oil production. 1.1 Natural gas Trinidad and Tobago currently has proven gas reserves of 14,416 billion cubic feet (Bcf) as of the end of 2009 according to an annual audit performed by the US-based Ryder Scott company (McHalffey, 2010). Additionally, the country has probable reserves of 7,837 Bcf and 5,893 Bcf of possible reserves. 1.1a) Production T&T2 produced 1,439 Bcf in 2009 and 1,496 Bcf in 2010 (Lashley, 2011). The Natural Gas Company of Trinidad and Tobago (NGC) forecasts, however, that production will increase slightly from 1.48 Tcf (trillion cubic feet) in 2010 to 1.64 Tcf in 2014 (MEEA, 2010b). Production in 2010 left the country with a reserve-to-production ratio (R/P ratio) of 9.6. R/P ratio is the remaining amount of a non-renewable resource expressed in years. Assessments of the R/P ratio can change over time with market conditions. As the market price for natural gas increases, for example, reserves that were previously economically unrecoverable could move from the probable category to the proved category, thus increasing the R/P ratio. The R/P ratio can also increase as new natural gas fields are discovered.As can be seen in the graph below, total proven reserves have declined from 20,758 in 2002 to 14,416 in 2009. The data supporting this chart can be found in the Appendix.

The vast majority of gas in T&T is produced by three companies: bpTT, BG, and EOG Resources.

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Figure 1.1a

Unrisked Gas Reserves and Resources 2000-2009 T&T Country Totals (in BCF)
40,000 35,000 30,000 25,000

Possible

Probable
BCF
20,000 15,000 10,000 5,000 0
2000 2001 2002 2003 2004 2006 2007 2008 2009

Proved

Source: McHalffey (2010)

1.1b) Consumption The majority of the 1,496 Bcf produced in 2010 was exported as liquid natural gas (LNG) (see Figure 1.1b below). The second largest use of natural gas was as a feedstock for petrochemical manufacturing (e.g. methanol, ammonia, urea, etc.). This reflects T&Ts explicit and ongoing strategy to explore the development of downstream, value-added industries for natural gas (MEEA, 2010c). The remainder of Trinidads natural gas (7%) is utilized directly in order to meet close to 100% of national power generation on an annual basis.

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Figure 1.1b

Natural Gas Utilization in T&T by Sector - 2010 (in BCF; %)

45; 3% 105; 7% 45; 3%
Liquefied Natural Gas (LNG) Methanol Manufacturing Ammonia Manufacturing Power Generation Iron and Steel Manufacturing Other

209; 14%

224; 15%

868; 58%

Source: (Lashley, 2011))

1.2 Oil 1.2a) Production As of 2007, T&T had proven reserves of 605.8 million barrels of oil, 334 million in probable reserves, and 1,560 in possible reserves (Guyadeen, 2010). Trinidad began commercial production of oil in 1908. Production peaked in 1978 at ~230,000 barrels/day following the discovery of three large oil fields (Teak, Samaan, and Poui (TSP)) in 1969, but has since steadily declined to an estimated 100,068 in 2010.3 Recent offshore exploration have not yielded economically recoverable reserves in sufficient amounts to reverse the decline. Although there is speculation that deeper drilling both onshore and offshore, or exploitation of the countrys estimated 300 million tones of tar sands might yield additional supply, exploration and extraction efforts have not yet borne fruit (MEEA, 2010a; Renwick, 2010a). Trinidad became a net importer of oil in 1998 (Guyadeen, 2010). 1.2b) Consumption The majority of Trinidads oil consumption is in the transportation sector, with the total amount consumed (by fuel) displayed in Chart 1.2b below.
3

In 2001, BHP Billiton discovered oil in the Kairi and Canteen prospects, but once production started in 2005, output declined sharply from 50,542 barrels per day in 2005 to 17,444 barrels per day by 2009 because the resource has proved smaller and more difficult to recover than initially expected (Renwick, 2010a).

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Chart 1.2b

Fiscal Year
2010

Gasoline
Vol. (Mn. L) 645

Kerosene
Vol. (Mn. L) 7.6

Auto Diesel
Vol.(Mn. L) 650

Source: Adams ((2010))

1.3 Renewable energy To date, there has not been a comprehensive technical assessment of renewable energy potential in Trinidad and Tobago.4 1.3a) Solar power The country has an adequate solar resource for both solar electric and solar thermal energy production, with an average daily solar radiation of 4.84 kilowatt-hours per square meter (kWh/m2/day). Germany, which is the worlds leading photovoltaic market and Europes largest solar thermal market, has an average solar radiation of only 3.15 kWh/m2/day. PV has been deployed in Trinidad and Tobago for off-grid applications, such as rural homes, navigation, telecommunications, and oil and gas applications, but has not been widely deployed in grid-connected applications. There have also been few organized research, development, or deployment programs. The University of the West Indies conducted research on solar stills, dyers, and water heaters, and installed several demonstration projects in schools and homes prior to 1999 (UNDP et al., 2009). In 20052006, the government partnered with the utility and multi-lateral partners to fund the installation of five solar water heaters on bed and breakfast establishments in both Trinidad and Tobago (UNDP, 2006). An estimate of the total number of solar systems installed is included in Chart 1.3a below:
Chart 1.3a

Applications Residential (rural): PV Telecommunications: PV Oil & Gas Platforms (varies):PV Telemetry/SCADA: PV Navigational Aids: PV Solar Hot Water: Residential Solar Hot Water: Commercial Solar Water Distillation Solar Pool Heating
Source: MEEA (2011)

Approx. No. of Size/Capacity Range Systems 150 60W 5.1kW 40 500W 2kW >50 60W 3kW 300 10W 2kW 100s 5W 250W 100 30 120 Gal 15 120 1600 Gal 30 2 45L/Day 25 96 650 Sq Ft

1.3b) Wind power

4

Interviews with Vernon de Silva, Director, Energy Planning & Research Division, and Vashti Guyadeen Senior Energy Advisor to the Minister of Energy, December, 2010

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The eastern side of the country also has adequate wind resources, although they have not yet been fully mapped. As of December, 2010, the MEEA is planning to release a request for proposals to complete an updated wind energy assessment in early 2011. There has been no wind energy development to date aside from early small-scale pilot efforts sponsored by Trinidad and Tobago Electricity Commission (T&TEC), and boat-mounted, off-grid systems. An estimate of the total number of wind systems installed is included in the table below:
Chart 1.3b

Applications Wind Systems: Residential Wind/PV Systems: Yachts Wind/PV Systems: Commercial
Source: MEEA (2011)

Approx. No. of Systems 5 100s 5

Size/Capacity Range 300W 1kW 300W 1kW 0.6 2kW

1.3c) Hydropower There is no major source of hydropower on Trinidad and Tobago. However, there have been proposals to construct a transmission line from Guyana to T&T in order to take advantage of Guyanas significant hydropower resource (Sirinath, 2010). 1.4 Electricity Generation 1.4a) Production Trinidad and Tobago currently has an installed capacity of 1,829 MW and the countrys peak demand in 2008 was 1,121 MW. The company maintains a comparatively high amount of reserve capacity in order to ensure reliability given the large industrial loads and its lack of interconnection to other countries. Installed capacity by generator type is contained in the table below. The islands of Trinidad and Tobago area also connected via a 33 kV transmission line, which effectively allows Tobago to call on an additional 40 MW of capacity from Trinidad (Wilson et al., 2009).
Chart 1.4a

Plant Type Gas turbine Steam Combined cycle Medium speed diesel Total
Source: Wilson (2009)

Capacity (MW) 1,352 260 196 21 1,829

1.4b) Consumption Between 2003 and 2008, T&T experienced average annual growth in electricity demand of 4.4%, and an increase from 6,088 GWh to 7,544 GWh. As can be seen in Figure 1.4b below, the industrial sector consumes the majority of electricity (~58%), followed by the residential (domestic) sector (~32%) and the commercial sector (~9%). Street lighting,

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which is not pictured in the chart, consumes an additional ~1% (Guyadeen, 2010, Table 11.2). The data for this chart are included in the Appendix .
Figure 1.4b

T&T Electricy Consumption by Sector 1988-2008

8,000

(in millions kilowatthours)

7,000 Industrial 6,000 Commercial Domestic 5,000

4,000

3,000

2,000

1,000

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

Source: Trinidad and Tobago Electricity Commission (2010)

In 2008, T&TEC projected that demand would increase each year between 2009 and 2013 by an average of 14.1%. This demand was at least partially predicated upon the expectation that a new 125,000 ton aluminum smelter would be built which would require 240 MW in capacity.5 In anticipation of this demand, NGC partnered with AES Corporation to form Trinidad Generation Unlimited (TGU) and build a 720 MW combined-cycle plant. The aluminum smelter project was abandoned by the incoming Persad-Bissessar government
5

The new government canceled the $600 million aluminum smelter project with the Brazilian conglomerate Votorantim Group. The Environmental Management Authority had issued a Certificate of Environmental Clearance to Alutrint (the name of the local joint venture company) for the aluminum smelter project, but a court revoked the certificate following anti-smelter activists filing for judicial review which claimed that the decision was based on inadequate and flawed information.

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2008

based on environmental and social concerns (Renwick, 2010b), however, and so T&T will have a significant amount of excess capacity when TGU is completed in the first half of 2011. T&TEC staff estimate that new capacity will not be needed from a technical standpoint until 2015. Section 2. Energy industry institutional structure and regulation The bulk of the current institutional and policy infrastructure related to energy supports the petroleum industries and the conventional electricity sector. This section provides a broad overview of the major institutions involved in the gas, oil, and electricity sectors. The current government has launched a series of new fiscal, legislative, and regulatory initiatives to support alternative energy sources and these are discussed in greater detail in Section 4. 2.1 Oil Petrotrin is the state-owned oil company in Trinidad and Tobago and was formed through the acquisition of foreign-owned, private sector oil assets. These included: BPs oil fields in 1969 (which were incorporated as the Trinidad and Tobago Petroleum Company Trintopec) Shells oilfields and Port Fortin refinery6 in 1974 (which were incorporated as the Trinidad and Tobago Oil Company, Trintoc), and Texacos oil fields and Pointe-a-Pierre refinery (which were acquired by Trintoc). In 1993, Trintopec and Trintoc were merged into Petrotrin, and in 2000, Petrotrin fully acquired the company Trinmar. Petrotrin pursues oil and gas exploration and production activities on the acreage that it owns, and produces jet fuel, kerosene, diesel, liquefied petroleum gas, gasoline, and fuel oil at its Pointe-a-Pierre refinery. The refinery has a capacity of 150,000 barrels per day (bpd), which is significantly more than the countrys crude oil production rate. As a result, Petrotrin imports crude oil for the refinery from other countries (e.g. Brazil, Colombia, Gabon, and Venezuela). In addition to Petrotrin and its subsidiary Trinmar, there were three other major oil companies that produced crude oil above 5 million barrels annually in 2008: BHP, Repsol, and bpTT. In addition, there were ten smaller companies7 producing less than 2.5 million barrels annually in 2008. 8 The petroleum industry is regulated by the Ministry of Energy and Energy Affairs under the Petroluem Act of 1969 and the Petroleum Regulations which were developed in
6 7

The Port Fortin refinery was subsequently shut down after the 1993 formation of Petrotrin. EOG, Ten Degrees, BG, Moraven, BGCB, POGL, TED, NHETT, NMERL, and Trintomar 8 Starting in 1989, Petrotrins predecessors also allowed small, domestic companies to pursue their own development by reviving old wells and exploring small parcels for their own production under what are known as the lease operatorship (LO) and farm out (FO) programs. The LO and FO programs are another source of small-scale, in-country crude oil production.

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response to the law in 1970. The Ministry manages the acreage available for oil and gas exploration, including organizing rounds of competitive bidding for exploration rights and conducting resource surveys (e.g. seismic studies to determine potential recoverable resources). 2.2 Natural Gas The primary institutional actor in the natural gas industry is NGC, which is the primary owner of the natural gas transmission system.9 NGC is a state-owned company with both commercial and de facto regulatory functions. Its responsibilities include ensuring supply security to end-users, pricing natural gas, and investigating and implementing gasrelated projects. NGC does not purchase and resell the gas destined for LNG production. NGC does act, however, as an purchaser/aggregator for the remainder of the natural gas, which it then sells wholesale to T&TEC, the petrochemical industries, and other users under different pricing schemes. NGC maintains confidential take-or-pay10 contracts under different terms with each of the gas producers. NGC also offers different pricing schemes to the different purchasers. NGC offers T&TEC a special low rate, whereas ammonia and methanol receive product-related pricing. Other national gas consumers are charged the market rate. Additionally, NGC maintains a 51% ownership11 interest in the Phoenix Park processing plant through which it extracts natural gas liquids (NGLs) such as propane and butane. A schematic of the natural gas industry in T&T is included below. On the left hand of the chart, the four main producers sell gas directly to NGC and also to the international LNG market. NGC then sells natural gas to its client industries. As discussed above, NGC also owns a majority interest in the TGU combined cycle generator.12

NGC does not own the transmission system that delivers gas to the Atlantic LNG plant. A take-or-pay contract implies that NGC must purchase a minimum amount of natural gas from the producers. Even if NGC does not have the demand to take the gas, however, it must still pay for the minimum volumes. NGC is currently long on gas and is in a state of oversupply because it committed and contracted to supply gas to several large industrial projects which were subsequently discontinued (e.g. the aluminum smelter, a steel plant, and a polypropelene plant). As a result, NGC is currently in a situation where it must pay instead of take. NGC is currently in discussions with the producers to determine if gas that has been paid for can somehow be banked for the future. 11 Conoco Phillips owns the other 49% of the Park. 12 Initially, AES was the majority owner of TGU, but the ownership stake shifted as the market and the project evolved.
10

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Figure 2.2

Source: Lashley (2011)

As can be seen in the graphic above, there are four LNG trains 13 in the country. Their capacities and online dates are: Train 1 (480 million cubic feet/day (MMcfd), 1999 Train 2 (500 MMcfd), 2002 Train 3 (500 MMcfd), 2003 Train 4 (800 MMcfd), 2005 The Atlantic LNG Company of Trinidad and Tobago (Atlantic) owns all four LNG trains. NGC is also a shareholder of Atlantic.14 2.3 Electricity Sector The Trinidad and Tobago Electricity Commission (T&TEC) is the national utility and was a wholly state-owned, vertically-integrated monopoly until 1994, when it divested its generation assets in Trinidad to an independent power producer (IPP), the Power Generation Company (PowerGen). T&TEC retained 51% ownership in PowerGen, with the other 49% owned by Marubeni TAQA Caribbean (39%) and Amoco Trinidad Power Resources Corporation15 (10%). T&TEC signed two power purchase agreements (PPAs) with PowerGen, and has also signed PPAs with two other IPPs: Trinity and most recently Trinidad Generation Unlimited (TGU). T&TEC retains full ownership of the national transmission and distribution system, as well as generation assets located on Tobago. T&TEC purchases gas from NGC and supplies gas to the IPPs who in turn generate power and sell it to T&TEC.

13 14

An LNG train is a term for a natural gas liquefaction and purification facility. The other shareholders include BP, BG, RepsolYPF, and Gaz de France Suez. 15 A subsidiary of BP

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Regulatory authority for the electricity sector is divided among three different entities. The Ministry of Energy and Energy Affairs is responsible for regulating power generation, the Ministry of Public Utilities is responsible for regulating power transmission and distribution, and the Regulatory Industries Commission regulates the utilitys electricity tariffs and cost recovery. Aside from the new fiscal incentives and legislative proposals from the current government (discussed below), the primary alternative energy initiative in the electricity sector has been the Combined Cycle Program (CCP). Under the CCP, T&TEC was directed to retrofit existing inefficient plants to combined cycle generation in order to improve efficiencies and conserve natural gas. T&TEC was also directed that new plants should also be combined cycle irrespective of the comparative economics of other types of generators. 2.4 Infrastructure and Economic Development In addition to the entities described above, the National Energy Corporation (NEC) also plays an important role in energy policy development. The NEC is a subsidiary of NGC and is responsible for supporting downstream energy markets to help diversify T&Ts economy. This includes economic development services for new businesses, as well as work to support downstream infrastructure such as natural gas-based industries, port development, etc. The NECs downstream focus cuts across energy sources, and the NEC supports the development of new alternative energy businesses and industries, as well as oil and gas-based enterprise. For example, NEC recently hired consultants to conduct industrial energy efficiency audits at the Point Lisas industrial estate.

Section 3. Energy policy objectives In May, 2010, Kamala Persad-Bissessar became the countrys 7th Prime Minister at the head of the Peoples Partnership coalition. The Persad-Bissessar administration has committed that it will distinguish itself from previous governments by taking concrete action to support alternative energy, including new sustainable energy policies and moving forward with compressed natural gas vehicles (Seepersad Bachan, 2010). Indeed, the Government has already achieved several firsts in terms of clean energy. In 2010-2011, the Government established the first package of renewable energy incentives for renewable energy (see Section 5) and in January, 2011, hosted the first public consultation focused specifically on renewable energy issues. Moreover, the government has recently published a new framework document for renewable energy development (Renewable Energy Committee, 2011). There are a number of drivers for the creation of a national energy policy in T&T that have been articulated by the current and previous governments in recent policy documents and speeches. This section focuses on those drivers which are most relevant to the establishment of a Sustainable Energy Policy Framework. These include: a) The lack of a formal energy policy. Trinidad and Tobago has developed several draft integrated energy policies in the past, such as the Green Paper for Proposed Energy Policy

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published by the Ministry of Energy and Energy Industries16 (1998). The previous government also convened stakeholders to lay out new energy pathways in the Vision 2020 reports (2006). None of these policies or plans has been implemented, however, and there is currently no articulated comprehensive energy policy that policymakers and investors can reference. b) Lack of alternative energy market growth. In each of the previous draft policies and strategy documents, renewable energy and alternative fuel vehicles are mentioned as priority strategies. As discussed in the section above, however, few concrete projects or incentive programs have been implemented since the 1998 Proposed Energy Policy. There were early pilots with compressed natural gas vehicles in the 1980s and again in the 1990s, but these pilots were beset by concerns over safety, lack of infrastructure, heavy fuel tanks (e.g. steel instead of lighter weight materials), and long fueling times, and did not successfully develop into a self-sustaining industry. c) Energy and economic security. Diversifying the national energy portfolio with alternative fuel sources could hedge against fossil fuel price volatility and partially insulate T&Ts economy against petroleum price declines. Over 40% of the countrys GDP and over 60% of government revenue is derived from oil and gas revenues. Fossil fuel price volatility makes economic planning and budgeting an uncertain process. The 2009 budget, for example, was crafted based on assumptions that oil prices would average US$70/barrel. Oil prices were in fact lower than this, which has led to budget shortfalls. Fossil fuel demand trends also have a pronounced impact on the wider economy. Recent downturns in US demand for natural gas as a result of shale gas production and the economic recession have lowered T&Ts natural gas revenues. This decrease in demand has been compounded by the fact that NGC is long on natural gas supply, and currently locked into take-or-pay contracts with its suppliers. Another energy security-related driver for alternative energy is concern about resource depletion. The countrys economy has been based on different commodities over time: first cocoa, then sugar cane, oil, and natural gas. The question that has been raised by many stakeholders in Trinidad and Tobago is: what next? Some stakeholders have identified the need to move further downstream within the oil and gas industries. Instead of using natural gas to manufacture ammonia alone, for example, sales channels should also be established for second and third derivative industries such as melamine, nitric acid, and ammonium nitrate (Renwick, 2010c). Alternative energy is also seen as a potential driver for new economic development activities. The Trinidad and Tobago Manufacturers Association has publicly endorsed new policies for clean tech manufacturing initiatives (Sandy, 2010), and the University of Trinidad and Tobago recently published a pre-feasibility study for developing a domestic photovoltaics manufacturing industry (Alexander et al., 2006). d) Balancing energy and revenue. Oil and gas, and derivative products, comprise the primary sources of revenue in the country. Energy policies that support domestic alternatives to oil and gas could free up a larger amount of T&Ts fossil fuel resources to
16

The Ministry of Energy and Energy Industries preceded the Ministry of Energy and Energy Affairs

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be sold in international markets or be used to create value-added products rather than being consumed domestically. e) Climate change. The Persad-Bissessar government, like its predecessor, has highlighted climate change as a key driver for action on alternative energy strategies (Seepersad Bachan, 2010). In particular, the government cites its obligation to respond to its international commitments under the UN Framework Convention on Climate Change and Kyoto Protocol, as well as an opportunity to elevating its image through leadership by example. There may also be opportunities for T&T to develop a strategy for taking advantage of new resources that may come available in the wake of the Copenhagen and Cancun Climate Conferences, such as the Green Climate Fund.

Section 4. Barriers to Sustainable Energy Alternative energy sources face significant barriers to development in Trinidad and Tobago. This section reviews the barriers most frequently cited during stakeholder interviews conducted as part of this consultancy. a) Low cost of electricity and subsidies. A primary barrier to renewable energy and energy efficiency in T&T is the low cost of conventional electricity. T&T has the lowest retail electricity prices in the region (Wright, 2010): residential electricity customers, for example, currently pay only US$0.04-$0.05/kWh. At the wholesale level, renewable energy competes against T&TECs avoided cost17, which is approximately US $0.03/kWh. Retail electricity prices are subsidized because NGC sells gas to T&TEC at below-market rates (i.e. under ~ US $1.00/mmbtu). NGC was previously able to support these subsidies because of an advantageous trading scheme that it had set up with Amoco whereby Amoco would provide NGC with gas from its fields in exchange for NGC compressing associated gas from its oil wells for reinjection.18 A schematic of this arrangement, which has since been terminated, is included as an Appendix. Currently NGC can potentially support the subsidized electricity rates using royalty gas from bpTT. In 2005, the government renegotiated bpTTs to equal 10% of the gas that bpTT19 exports. Instead of being paid in cash, however, the royalty was paid in the form of

17

Avoided cost is a term for the amount of money a utility would have to pay to acquire or generate energy itself. It is typically used as a benchmark to compare investment decisions in alternatives such as renewable electricity or energy efficiency. Wind power prices in the US in 2009, for example, ranged from $0.04/kWh $0.09/kWh (Wiser and Bolinger, 2010), which would be above T&TECs current avoided cost of generation of $0.03/kWh. 18 Interview with Frank Look Kin, Technical Advisor to the Minister, December 2010. 19 The original royalty payment, which had been negotiated in 1965, was set at the low rate of $0.015 / mcf approximately 0.3% of the value of natural gas (Furtado et al., 2004). When the fourth LNG train was brought online in 2005, it increased the amount of gas that was being exported. The government used this event to accelerate the timeframe on which bpTT would transition from its original royalty rate to the standard 10% rate for marine production (Renwick, 2008).

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gas in order to provide NGC with low-cost supply that it could use to support key industries or sectors (Renwick, 2008). Low prices are a challenge for T&TEC, however. Despite the cross-subsidies of gas prices, T&TECs costs have outpaced their ability to recover them during the past decade. The companys annual return fell from a high of 16% in 2003 to -2.2% in 2007 and T&TECs inability to have cost-reflective approved by its regulator (RIC) were one of the factors for this decline. Other factors that negatively impacted profitability were the fact that nongenerating operating expenses (e.g. transmission, distribution, administration, and depreciation) grew at an average of 15.3%, compared to 5% average growth in electricity sales (Wilson et al., 2009). b) Oil subsidies. Unlike the electricity price support scheme, oil is directly subsidized through the use of price caps set by the government, which are explained in detail below. The current caps for different fuels are listed in the table below:
Figure 4.1

Fuel Premium gasoline (95 octane) Super gasoline (92 octane) Kerosene Diesel
Source: Adams (2010)

Cap/liter TTD $4 TTD $2.70 TTD $1.50 TTD $1.50

To set the subsidy, the MEEA calculates the average market price for oil on a monthly basis and then adds in additional fees for filling and handling charges, an excise tax duty, and a fixed margin for the fuel wholesalers. The difference between this total price 20 and the price cap is the total subsidy. The oil producers sell their product to Petrotrin at the Caribbean market price, whereas Petrotrin must sell oil to the retailers at the price cap. The government then pays Petrotrin the calculated subsidy as compensation. The entire cost of the oil subsidy was initially recovered from the producers through the national Petroleum Levy. The recovery mechanism was reformed as oil prices rose, however, in order to limit the burden on oil producers to 4% of their monthly revenues. As a result, a greater share of the subsidy cost is borne by taxpayers as oil prices rise. Total subsidies over the past three years have ranged from TTD $1.35 billion in 2009 to ~ TTD $4 billion in 2008. The oil subsidy is controversial not only because of the strain that it puts on the national budget, but also because some of the subsidized oil is then sold illegally to buyers in Guyana and as far away as Puerto Rico. c) No track record of alternative energy development in Trinidad and Tobago. To date, there has not been sustained demand for renewable energy, energy efficiency, or alternative fuel vehicles in T&T. As a result, there has been a lack of capacity and institutional development to support new energy systems.21 This includes a lack of government
20 21

VAT is excluded from the calculation of this price Interview with Vashti Guyadeen, Senior Energy Advisor to the Minister of Energy, December, 2010

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infrastructure such as regulations, permitting, zoning, and inspections; private sector capabilities in the manufacturing (e.g. solar water heating system assembly), service (e.g. energy auditors and system installers), financial (e.g. a lending track record among domestic banks) and legal sectors; and utility capacity (e.g. streamlined interconnection processes, the integration of intermittent systems, etc.). As a result, pioneering attempts at installing new renewable energy systems could face a broad range of unexpected transaction costs, administrative hurdles, and awareness barriers as the stakeholders involved climb the learning curve. A related barrier is the chicken-or-egg issue surrounding workforce training and development. Minister Seepersad-Bachan has identified the need to develop alternative energy training programs, but questions about how best to introduce such programs remain: is it better to train service providers first and then attempt to grow the market or introduce policies to grow the market and then train service providers? If both are to be done in parallel, how best to strike a balance? Different governments have adopted different approaches to this same issue. d) Lack of policy support. The combination of low energy prices and a lack of existing market infrastructure means that alternative energy systems will likely not enter the market without targeted incentives and outreach programs. As discussed below, the new government has already taken steps to introduce renewable energy incentives and also plans to introduce new enabling legislation in early 2011. Although these proposed new policies represent tangible progress for the policy landscape in T&T, further research will be necessary to determine whether they will be sufficient to drive alternative energy development. e) Difficulty accessing the Green Fund. The Green Fund was established through legislation in 2004 to provide funds to community based organizations (CBOs) and nongovernmental organizations (NGOs) to support projects related to environmental remediation, reforestation, and conservation. The Fund is capitalized by a tax on the gross sales and receipts of corporate companies operating in Trinidad and Tobago and had accumulated TTD $1.4 billion as of 2008 (Laydoo, 2008). The Fund has had a long journey to operationalisation, and its actualisation has taken close to seven years (Green Fund Executing Unit, 2010). The design and start-up process ultimately led to the creation of a governing framework supervised by the Ministry of Planning, Housing and the Environment (MPH&E). The Fund is governed by the Green Fund Advisory Committee (GFAC) and the Green Fund Executing Unit (GFEU). There appears to be flexibility to use the fund for energy conservation projects, but to date no projects have been developed. The new government has a stated goal of expanding the authority of using the Green Fund for alternative energy strategies (Seepersad Bachan, 2010). Two key challenges to the fund are that 1. CBOs and NGOs have thus far had difficulty overcoming the transaction hurdles to successfully prepare and submit a Green Fund application, and 2. The Green Funds governance journey was recently prolonged when the MPH&E was reorganized into the Ministry of Housing and the Environment and the Ministry of Planning, Economic and Social Restructuring and Gender Affairs there was initially a lack of clarity as to where

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responsibility for the Green Fund resides. It has been subsequently clarified that the Green Fund resides in the Ministry of Housing and the Environment.
Green Funds There are many examples of green funds internationally, with a high concentration of energy efficiency and renewable energy funds at the state level in the US (Arbelaez and Marzolf, 2010). Known collectively as public benefits funds, (PBFs) many of these were created during the 1990s to complement electricity restructuring (Doris et al., 2009). Although a deep best practice comparison is beyond the scope of this paper, several optimal design options that have been highlighted by other analyses include: Funding source. The funds are typically ratepayer, rather than taxpayer, funded based on the polluter pays principal. Ratepayer funds are also considered less vulnerable to budget volatility. Management. Funds are typically managed by utilities, the government, or by third-party entities (e.g. non-profits). Although each management mechanism has its pros and cons, thirdparty entities have been identified as an optimal choice because they do not have the inherent conflict of interest in delivering sustainable energy services that utilities do, they are more flexible than government, and they can be more readily structured to engage in self-sustaining, revenue-generating activities (Houck and Rickerson, 2009). Clear goals. If the goal of the fund is market transformation (rather than demonstration or pilot projects), the fund programs should be structured to meet clear objectives, target a defined set of technologies, and be linked to clear metrics and targets. Streamlined processes. The sustainable energy services supported by green funds compete with the basic energy service provided by utilities. Utility services are generally provided to customers in a highly streamlined manner with a single point of contact, whereas sustainable energy service delivery is often fragmented and delivered through a range of different channels. To the extent possible, these channels should be combined into one stop shopping portals. Moreover, the programs should be as easy to access and administrate as possible. Many funds have transitioned from requiring competitive applications to offering incentives on a first come, first-served basis. Consistent funding. Identify a consistent annual source of funding that is insulated from the threat of diversion in order to create investor security and steady market growth.

Section 5. Current Sustainable Energy Initiatives In response to the drivers and barriers discussed above, the current government is launching a series of new initiatives to support alternative energy development. These include a series of fiscal incentives which have already been put in place, and legislative proposals which are expected to be introduced early in 2011. The government is also engaging stakeholders through governmental committees and through the 2011 National Energy Policy Consultations. 5.1 Renewable energy policy The 2011 Budget, as presented by Minister of Finance Winston Dookeran (2010), contains several tax incentives for renewable energy systems which will take effect on January 1, 2011, and which will require amendments to the Customs Act, the VAT Act, and the Income Tax Act. The potential legislative agenda announced by the Minister of Energy, meanwhile, also contains several proposals which would affect renewable electricity broadly. Finally, MEEA has prepared a document to support the January, 2011, public consultations that outlines a suite of renewable energy policy initiatives based on the work

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of the Renewable Energy Committee22 (Energy Research and Planning Division, 2010). Each of these policy proposals is summarized below. a) Solar water heating The fiscal incentives for solar water heating equipment (but not labor) include: An import duty exemption A value-added tax (VAT) exemption A 25% tax credit up to TTD $10,000 for residential systems A wear and tear allowance of 150% for commercial systems b) Wind energy The fiscal incentives for wind energy equipment (but not labor) include: An import duty exemption A VAT exemption A 150% wear and tear allowance The MEEA will also be releasing an RFP in early 2011 to conduct a wind energy assessment for the country. . 5.2 Legislative proposals In addition to the fiscal incentives that have already been included in the 2011 Budget, the current government has also stated that it is exploring several new regulatory policies that would amend the way that renewable generators interconnect and sell power to the grid (Seepersad Bachan, 2010). These include: Open access, which would guarantee non-discriminatory access to the transmission and distribution network and enable a broader range of independent power producers to participate in the electricity market. A feed-in tariff, which has been defined in T&T as a policy that would set a price for renewable electricity purchased at wholesale (i.e. in front of the meter) at a calculated percent of the utilitys retail price or its avoided cost. Net metering, which would allow small generators to receive credit for excess power that they generate from onsite systems (i.e. behind-the-meter). Renewable portfolio standard (RPS), which would set a national target for renewable electricity. These proposals are still at the conceptual stage and lack details such as the proposed timeline for passage, as well key questions such as: the interaction between net metering and feed-in tariffs, the rate at which the feed-in tariff would be set, and the target selected for the RPS. There are also questions as to whether the current retail or avoided costs levels would provide investor returns sufficient to support any new generation under either feedin tariffs or net metering.

22

The Renewable Energy Committee was a inter-departmental working group launched in 2009 under the previous government to assess renewable energy opportunities and propose renewable energy policies. The Committee is chaired by Vernon DeSilva, Director, Energy Planning and Research Division in MEEA.

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5.3 Energy efficiency A recent report from the Caribbean Renewable Energy Development Programme characterized energy efficiency and demand side management efforts in T&T as extremely limited and limited to occasional television advertisements from T&TEC and brochures on consumer conservation tips from RIC (Wilson et al., 2009). There has been an increased focus on energy efficiency under the new government. Similar to the fiscal incentives for solar water heating and wind, there are also fiscal incentives for energy efficiency in the budget for 2011. These include: A 150% tax credit for energy service companies on the cost of providing energy audits. Accelerated depreciation on 75% of the capital cost of energy efficient equipment. In addition the Carbon Emission Task Force, chaired by Selwyn Lashley, Director, LNG and Gas Exports Division in MEEA, is focusing on large industrial energy efficiency and is supporting projects such as the Point Lisas industrial estate energy audit. 5,4 Compressed Natural Gas vehicles Another key focus of the current government is to realize the promise of a next generation of compressed natural gas vehicles. The government sees CNG as a safety net for diesel subsidy reform. By converting vehicles to CNG, T&T could simultaneously provide drivers with a lower cost alternative to current fuels (even with subsidies) and reduce demand for subsidized fuels. In support of this goal, the government has set a target to have 5,000 CNG vehicles on the streets by 2011. Additionally, the government has proposed a series of fiscal incentives to create incentives for CNG vehicle purchase and retrofits. These include: 130% wear an tear allowance for fleet operators that purchase conversion kits and cylinders. Import duty exemption for conversion kits and cylinders 25% tax credit for conversion kits and cylinders purchased by individuals for their own vehicles, up to TTD $10,000. Five-year motor vehicle tax exemption on imported vehicles less than no more than two years old Five-year VAT exemption for private and commercial CNG vehicles no more than two years old

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Section 6. Recommendations The Persad-Bissessar government has taken the first concrete steps toward establishing Sustainable Energy Policy Framework in Trinidad and Tobago by implementing the tax exemptions and incentives discussed above. Beyond these initial steps, however, the countrys SEPF is largely a blank slate and there is a broad universe of additional policies and specific sub-sectors that the government could seek to develop. This section does not attempt to create a full roadmap of next steps, but rather suggests several initiatives which could lay the foundation for accelerating clean energy and/or build on existing programs and concepts. Energy efficiency Background: Energy efficiency is the lowest-cost energy and capacity resource available and it is likely that some no-cost and low-cost efficiency measures could be installed below even T&TECs low avoided cost. The current energy efficiency incentives for audits and equipment depreciation primarily target large industrial users, and the country has an opportunity to implement a broader range of foundational energy efficiency policies. Develop incentives for residential and commercial customers. Although residential and commercial customers account for a comparatively small share of national energy usage, it is important to create avenues for broad program participation in order to build momentum for efficiency policy. Streamline the Green Fund and reorient towards energy. Currently, the Green Fund is a relatively non-transparent avenue for supporting energy projects. Although the government has announced plans to orient the Green Fund more toward energy, to date no energy projects have been funded. A standard set of incentives could be developed that are available on a rolling, instead of competitive, basis. Institute a system benefits charge based on willingness-to-pay. In parallel to the green fund, Trinidad and Tobago could consider assessing the willingness-to-pay for energy efficiency programs and using that assessment as the basis for a small surcharge on each kilowatt-hour of electricity. This surcharge could be used to fund energy efficiency incentives, such as rebates, interest rate buy-down programs, etc. Develop cash-based incentives. The incentives for energy efficiency are currently tax based and therefore limited to entities that have a sufficient tax appetite. This blocks program participation by entities that do not pay taxes (i.e. non-profits and government) and will also dampen program uptake during periods of economic downturn. Building codes and appliance standards. Building codes and appliance standards that emphasize or mandate energy efficiency are off-budget approaches to accelerating energy efficiency uptake. Trinidad and Tobago should develop and implement an roadmap for phasing in international best practices. Lead by example. There are many opportunities for the Government to implement its own energy efficiency policies in order to lead by example. These could include: building mandates and appliance standards for government property, the development of energy efficient operations and maintenance protocols for government property (e.g. temperature standards and lighting controls), energy efficiency performance contracts

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for government property, and leadership in vehicle miles traveled reductions through office ride sharing and telecommuting initiatives. Renewable energy Background: Trinidad and Tobago has adequate renewable energy resources, but has not aggressively developed them to date. The country has taken some first steps towards renewable energy policy, but it is unlikely that these incentives will have a significant market impact given the low electricity rates compared to the contemplated incentives. Moreover, Trinidad and Tobago does not have a thorough understanding of its resources and constraints. Combine resource assessments with grid assessments. T&T is planning a wind resource assessment for 2011. T&T, however, is not electrically connected with other nations. As a result, T&T should consider also conducting a grid integration study to identify the potential for intermittent renewable energy installations and strategies for strengthening the grid to eventually accommodate more. In assessing grid constraints, T&T might also get better visibility on the types of grid friendly features that might need to be integrated into renewable energy generators, such as real-time data monitoring systems, low-voltage ride through, curtailiability, and/or the ability to supply ancillary grid services. Set renewable energy targets. Based on the assessments of resource and constraints, T&T should set binding renewable energy targets. Ideally, these targets would be integrated into T&Ts larger climate change targets. In other words, T&T could set a target for the amount of final energy to be supplied by renewable resources (e.g. 8% by 2020) that would explicitly help satisfy its climate targets. These final energy targets could be further sub-divided into specific electricity, heat, and transportation targets. The development of a integrated climate and energy plan, however, may be a mid-term initiative. In the near-term, T&T should set at least set a national renewable electricity target, such as the renewable portfolio standard mentioned by Minister SeepersadBachan. Design incentives to target specific technologies. The feed-in tariffs and net metering policies as currently conceived are technology-neutral because they would set rates based on avoided cost (proposed feed-in tariff) or based on retail price (proposed net metering), rather than on the generation cost of specific technologies. If T&Ts objective is to encourage specific resource development, such as PV or wind, they will likely need to craft specific policies that reflect technology generation costs since their avoided cost and retail rates are likely too low to attract Integrate renewable portfolio standards, net metering, and feed-in tariff policies. T&T has proposed three policies that are sometimes viewed as complementary and sometimes viewed as mutually exclusive. T&T should specify how the different policies will interact and whether they target different technologies, market segments, etc. For example, the RPS could set a target that the utility could meet through the procurement of RECs. Since T&TEC is the only utility in the country, however, there would not be a need for REC trading. Instead, RECs could represent a fixed premium above avoided cost that a given technology needs to be economically viable. The feed-in tariff would then purchase electricity at a long-term, fixed avoided cost rate and RECs at a fixed, long-term premium

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rate. Net metering could run in parallel with the feed-in tariff as an alternative for onsite generation instead of generation on the utility side of the meter. Under net metering, a fixed REC could also represent the premium required by generators above the retail rate.

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Appendix:
Chart 1.1a) Unrisked Gas Reserves and Resources Country Totals (BCF)

Year

Proved

Probable
7,693 8,117 8,280 8,627 9,029 7,760 7,883 8,451 7,837

Possible
5,468 5,857 6,062 5,890 7,066 6,225 5,888 6,286 5,893

Exploration
30,330 29,100 29,377 28,030 32,184 37,094 31,253 29,641 25,990

19,674 2000 20,348 2001 20,758 2002 18,809 2003 18,775 2004 2005 17,052 2006 16,997 2007 15,374 2008 14,416 2009 Source: McHalffey (2010)

Chart 1.4b) Consumption of electricity by type of user 1988-2008 (in KWhs),

Year
1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Domestic
854,122,788 827,321,154 855,048,033 849,668,929 894,611,416 935,875,158 921,154,538 897,241,148 1,002,041,205 1,060,166,420 1,117,945,083 1,144,684,232 1,250,642,723 1,285,003,284 1,398,664,429 1,541,567,424 1,493,685,649 1,728,210,849 1,798,577,239 1,933,834,400 2,398,345,448

Street Lighting
13,699,316 13,855,566 14,141,916 14,378,645 14,519,447 14,567,579 15,076,198 15,057,893 15,642,868 15,911,697 18,769,815 17,337,095 17,874,642 18,805,605 20,327,419 23,175,210 24,293,477 26,664,173 49,252,714 67,836,027 91,085,572

Commercial
317,715,043 319,811,336 330,970,214 342,151,867 341,951,577 334,462,012 343,940,238 319,854,882 360,402,752 410,277,713 432,261,863 456,612,879 475,127,905 522,910,660 520,224,393 581,389,278 545,325,307 618,731,603 649,821,727 701,099,164 700,815,856

Industrial
1,781,429,166 1,732,855,206 1,917,000,555 1,952,252,224 2,116,204,674 2,062,259,555 2,210,460,704 2,178,076,640 2,565,625,736 2,877,565,493 3,127,392,380 3,270,451,805 3,271,728,660 3,158,337,774 3,706,751,655 3,941,961,167 3,800,806,399 4,168,650,144 4,157,116,569 4,833,511,921 4,346,034,636

Source: Trinidad and Tobago Electricity Commission (2010)

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Appendix. NGC associated gas compression and trading scheme with Amoco

Amoco
Amoco trades an equal amount of gas from its fields for gas compressed by NGC. NGC sells this gas to utilities and industry.

Gas captured during oil extraction

Associated gas from oil fields captured and compressed

NGC

Compressed gas Injected in oil wells to support oil extraction

Source: Frank Look Kin, Technical Advisor to the Minister, December 2010

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