The Government of Grenada continues to be disappointed by the recent public statements made by Grenada Private Power Limited (GPP) and WRB Enterprises Inc (WRB) regarding the reforms to the electricity sector.
GPP and WRB claim to be “willing to engage with Government in comprehensive good-faith negotiations” concerning these reforms but have instead initiated arbitration. The company officials say that they want to “power the needs and growth of the nation,” but have instead largely ignored or disregarded efforts by the Government to engage within the current electricity reform agenda that Government has sought to implement, in order to ensure the development of the sector, in line with international standards and with the backing of the international community.
It is not correct that GPP/WRB had “no choice” but to seek arbitration of this matter.
The Grenada Government maintains that GPP/WRB is welcome to continue its participation in the Grenada economy through GRENLEC, albeit in a more competitive and modern policy environment which will foster economic growth.
The Government of Grenada is mindful that our fundamental responsibility is to the Grenadian people who have given us a mandate to ensure that we continue to develop our country and that we put policies in place to better the livelihoods of all citizens, including the ultimate lowering of staggering electricity costs. The Public Utilities Regulatory Commission Act and the Electricity Supply Act provide for this, without leaving any investor in the sector out of pocket.
It is within this well-intentioned framework for continued investment and development that the Government hopes to continue discussions with GPP/WRB to ensure that the best solution is realised.