PPC Ltd will be working closely with Dr. Jonathan Lesser, President of Continental Economics who will be conducting the assessment over the next few months. Continental Economics, based in the USA, provides expert economic services for a wide range of energy-related matters, including economic impact studies, environmental policy and cost-benefit analysis.
Speaking on the recent partnership, PPC's CEO and President Eddinton Powell said, "We are pleased to have secured the services of Continental Economics Inc to assist PPC in assessing the potential for Renewable Energy within our service territory of the Turks and Caicos Islands. It is important that we do proper econometric and engineering studies on the viability of Renewable Energy before embarking on this road."
Powell added, "The experience with utility scale Renewable Energy worldwide is mixed. There are significant opportunities in Renewable Energy under the right conditions, but experience has shown that electricity consumers and tax payers will pay the price if the National Policy is wrong. PPC selected Dr. Lesser based on his vast experience on utilities and Renewable Energy. He has advised governments on electric policy issues, including restructuring and competition, renewable resource investments, and regulatory policy in Central America, the Caribbean, and Canada. He has prepared economic impact studies on generating resource development, including geothermal and nuclear power plants, and evaluated the economic impacts of electric industry policies that affect electric market prices."
Dr. Lesser who has over 25 years of experience working for regulated utilities, governments, and as a economic consultant in the USA and abroad said, "PPC Ltd asked that I provide an independent assessment of the potential of Renewable Energy to meet their customers' electricity needs, with special regard to the costs of Renewable Energy, the company's distribution system and the regulatory framework within which the company operates. I am looking forward to working with PPC staff and other interested parties to determine what will best serve the interest of the country."