Bermuda Taskforce Slams RA's LNG Decision as Island Moves Further Away from Renewable Energy
The Bermuda Environmental Sustainability Taskforce is expressing concern over the Regulatory Authority's decision to power Bermuda on liquefied natural gas (LNG) for its Integrated Resource Plan. This decision comes after a significant increase in facilities charges for solar customers, effectively shutting down the island's solar businesses and making it cheaper for some customers to remove their panels.
The taskforce is questioning the RA's choice, citing that other island nations have studied LNG and fossil fuel investments and have chosen to move away from them. For example, Hawaii has prioritized local renewable generation, shifting the economic burden to upfront capital investment. Once these local assets are amortised, the marginal cost of production is near-zero.
Puerto Rico Electric Power Authority IRP proceedings also successfully challenged large-scale LNG expansion pathways due to high capital expenditure and stranded asset risk. Turks & Caicos Islands and Cayman Islands have also accelerated renewable energy legislation focused on competitive tendering and distributed generation.