Basseterre, St. Kitts, October 08, 2024 (SKNIS): The Prime Minister of St. Kitts and Nevis, the Honourable Dr. Terrance Drew, reaffirmed the nation’s commitment to achieving energy independence during his latest “Roundtable” discussion on 8th October, 2024, at the Koi Resort.
“We need to transition to a sustainable island state with energy at the centre,” stated Prime Minister Dr. Drew. He emphasised the importance of renewable energy in transforming the nation, highlighting the potential of Nevis’ geothermal resources as a key factor.
The Prime Minister noted that harnessing Nevis’ geothermal energy would help the Federation break free from dependence on external oil price fluctuations, which currently drive up energy costs. This energy independence, he stated, would “create fiscal space to do anything,” as the current rate of 60 cents per kilowatt is a significant burden for the country. He explained that if the Federation could reduce energy costs to one-third of the current price, as outlined in the International Monetary Fund (IMF) report, it would positively impact the economy.
He emphasised that this transition would have a profound economic impact, lowering electricity bills for citizens and making the Federation more attractive for business and investment. Prime Minister Dr. Drew concluded by stating that these efforts would greatly improve the quality of life for all citizens of St. Kitts and Nevis, marking the beginning of a new era of sustainable development for the nation.
-30-
