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The Government of Saint Lucia has endorsed the establishment of the Eastern Caribbean Energy Regulatory Authority (ECERA) project, which was officially launched Thursday evening in the “Spice Isle” Grenada.

The Independent Regional Energy Regulator is expected to level the playing field in the energy sector and increase confidence among consumers in the transparency and fairness of the tariff-setting mechanism.

Speaking at the official launch on Thursday November 7, 2013, Saint Lucia`s Minister for Sustainable Development, Energy, Science and Technology Dr James Fletcher said the formation of ECERA is critical for the sustainable development of the sub-region.

So far Saint Lucia and Grenada are the only two members of the ECERA project, which is being implemented with loan financing from the World Bank, through its concessionary IDA Credit Mechanism.

At Thursday`s launch every speaker echoed the need for the other OECS member territories to get onboard at the soonest in order to ensure success of the project and by extension benefit to the entire sub-region.

In his remarks Dr Fletcher urged the Regional Energy Committee (REC) to devote the next few months to designing a mechanism that will give the other four independent Member States of the OECS the comfort and the space they require to join ECERA.

The Eastern Caribbean Energy Regulatory Authority (ECERA) project is being executed by the OECS Secretariat.

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