Thu Sep 19 14:47:00 UTC 2024: ## Energy Chamber Calls for Electricity Subsidy Removal in Upcoming Budget

**Port of Spain, Trinidad** – In a bold move aimed at transitioning Trinidad and Tobago towards a green economy, the Energy Chamber of Trinidad and Tobago has called for the removal of the electricity subsidy in the upcoming September 30 national budget.

Dr Thackwray “Dax” Driver, President and CEO of the Energy Chamber, argued that the current electricity subsidy is unsustainable, as it relies on heavily subsidized natural gas, which could generate more foreign exchange if diverted to the petrochemical and LNG sectors.

“We need to be realistic,” Driver stated. “We have to remove the subsidy on electricity in the country. We could be earning a lot more (foreign exchange) if we put natural gas into the petrochemical and LNG sectors.”

Driver emphasized that an increase in electricity rates does not necessarily translate to higher bills for consumers, especially if accompanied by energy efficiency policies. He proposed maintaining subsidies for the poorest households while removing them for better-off households and commercial businesses.

Meanwhile, economist Dr Marlene Attzs highlighted the need for a national discussion on transitioning from non-renewable energy sources to renewable ones. She warned that the European Union’s Carbon Border Adjustment Mechanism (CBAM) will significantly impact carbon-intensive industries in Trinidad and Tobago, making the transition to a greener economy crucial.

The Trinidad and Tobago Coalition of Services Industries (TTCSI) also presented its budget expectations, calling for a dedicated services task force, initiatives to boost services exports, technology adoption support for businesses, research funding, and the establishment of a strong services brand for Trinidad and Tobago.

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