The Energy Committee of the Trinidad and Tobago Chamber of Industry and Commerce was established on October 01, 2001. It is currently involved in activities that will FIND and develop our natural resources cost effectively, USE these resources wisely, extracting maximum value and CREATE more sustainable economic activities. The Committee delivers its mandate by educating, developing and advocating.
Examples of current work of the Committee are:
- Trinidad and Tobago Gas Sales Forecasting Model
The Committee has developed a national planning model to assist in forecasting gas sales, reserves and Reserve/Production ratios for Trinidad and Tobago. The model will allow various stakeholders to input their own assumptions and to generate alternative scenarios for the key indicators in the local gas industry. The aim is to provide a common tool for stakeholders to capture their perspectives on the future thereby paving the way for a more sophisticated debate and better policy formulation in the local gas industry.
- Petroleum Products Subsidy
The Committee is engaged in brainstorming potential solutions to the growing petroleum products subsidy issue. It hopes to engage in debate with other stakeholders to develop practical solutions on the way forward.
- Renewable Energy
The Committee has been examining the application of renewable energy in Trinidad and Tobago and has considered solar and wind power.It is currently studying the potential supply of hydroelectric power from Guyana. It has been established that Guyana has some 7000MW of hydroelectric power potential.
- The Energy Committee is of the view that the supply of Hydropower from Guyana will prolong the life of the local gas industry as well as sustain the electricity based industrialization platform. The development of hydroelectric power supply should also reduce the gas needed by T&TEC and make this available for other use.