“There is a laundry list of benefits to the divestment and the accompanying set up of an independent regulatory agency for the energy sector.”
The Prime Minister Voreqe Bainimarama made this comment while officiating at the 50th year Golden Jubilee celebration for FEA at the Grand Pacific Hotel last night.
Bainimarama says this will mean a greater private sector engagement that will attract partnerships rather than capital alone.
He says that these partnerships will help reduce the vulnerability to shifting energy prices by boosting renewable energy sources in Fiji.
He adds that Government will still be FEA’s majority shareholder and the support provided to low income-earners will continue.
Bainimarama says that the divestment will put FEA in a stronger position to fund capital works and maintain the impressive infrastructure network that is in place today.
Meanwhile, the Fiji Electricity Authority serves nearly 175,000 customers.
Bainimarama says that the FEA oversee’s the supply of 934 Gigawatt Hours of power all across Fiji.
He says that since 2007, an average of $77 million dollars a year has been directed toward capital projects through the FEA.
