Roseau, Dominica: A 52 percent controlling interest in Dominica Electricity Services Inc. (DOMLEC) has been acquired by the government of the Commonwealth of Dominica. The measures were effected on March 31, 2022.
The announcement was made by Prime Minister Roosevelt Skerrit during a national address on Wednesday, March 30, 2022. The address came after a day when the government had conducted months of negotiations with the majority owner of the power company, Emera Inc.
Outlining the decision, PM Skerrit noted, “I have now privileged to announce that the Government of Dominica signed an agreement with Emera Inc. on March 31, 2022, under which the government has purchased its 52 percent stake in DOMLEC. As per the agreement, from April 1, 2022, the government and the residents of Dominica will control the interest in DOMLEC.”
He stated that the acquisition of DOMLEC is aligned with the goals of the government to build resilience in the energy sector with the incredible action to improve energy security and strengthen growth and economic prospects. The Dynamic Dominica vision is something that uplifts and pursues greater efficiency in electricity generation to meet the national target of 100 percent clean and carbon-neutral energy by the year 2030, added the prime minister.
Prime Minister Skerrit asserted that the step is a great step to correct the mistake made in 1997, as the company was sold to a foreign investor by the United Workers Party (UWP)- led government at a total cost of $21 million.
PM Skerrit declared, “The decision has been viewed efficiently and also against the best interest of the consumers of electricity in the country. The interest in the ownership of DOMLEC would ensure that the firm will work for the betterment of the citizens and the country’s main utilities will also remain in the hands of the State.”
He further affirmed that the main motive of the government behind the decision is to enhance the system for the generation, distribution of affordable and sustainable energy.
“As a matter of priority, the Dominican government will also undertake the upgrades of transmission and distribution lines which further fortified operations at existing power plants. The government also wants to deliver a more efficient electricity supply to homes and businesses which targeted the efficiency measures along with cleaner more affordable geothermal energy”, underscored the prime minister.
While extending gratitude to Emera Inc., PM Skerrit expressed that the company has worked to enhance and productive partnership; he also invited the collaboration and support of the people of Dominica in the creation of a more resilient and sustainable energy infrastructure.