Challenges and Opportunities in Fuel Pricing and Energy Sector Development in Tuvalu
Tuvalu faces challenges in fuel pricing transparency and importation, with opportunities for renewable energy development. The country heavily depends on imported petroleum fuels but lacks effective regulations, especially in monitoring fuel prices. The Department of Energy aims to improve well-being through sustainable energy practices. Challenges include limited land space for solar PV installation, while upcoming renewable energy projects offer potential for a significant increase in renewable energy usage.
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Transparency in Fuel Transparency in Fuel Pricing for all. Pricing for all. DEPARTMENT OF ENERGY 10-14 SEPTEMBER 2018
Outline Background Fuel price Challenges Opportunities
Background (Petroleum Sector) Tuvalu is a country heavily dependent on imported petroleum fuels, classified as dangerous good, but is not well prepared to deal with the economic, environment and safety challenges of this energy source. TNEP Goal - To improve the well-being of the Tuvalu people by promoting the use of its renewable energy resources and implementing cost effective, equitable, reliable, accessible, affordable, secure and environmentally systems. sustainable energy
END USER LCT & CARGO BOAT STORAGE MRT
Fuel price Fuel price is regulated under the Price Control Act but not effective as they accept the price given by fuel supplier. No provision for price monitoring in the current Petroleum Act. Department of Energy ; collect fuel price for public information.
Fuel import $8,000,000.00 $7,000,000.00 $6,000,000.00 $5,000,000.00 Cost WP $4,000,000.00 $3,000,000.00 $2,000,000.00 $1,000,000.00 $- 2012 2013 2014 2015 2016 2017 KERO $1,322,465.27 $1,469,334.72 $1,789,502.10 $1,146,888.00 $683,850.00 $1,080,250.00 ULP $338,580.00 $73,040.00 $43,680.00 $110,880.00 $7,300.00 $55,130.00 ADF $4,293,230.92 $2,069,602.08 $5,335,707.48 $2,681,458.00 $2,197,800.00 $3,069,400.00 Years ADF ULP KERO
LPG Import LPG $9,000,000.00 $7,875,200.00 $8,000,000.00 $6,903,680.00 $7,000,000.00 $6,000,000.00 $4,819,650.00 Cost R/P $5,000,000.00 $3,794,080.00 $3,744,400.00 $4,000,000.00 LPG Linear (LPG) $3,000,000.00 $2,000,000.00 $1,000,000.00 $- 2013 2014 2015 2016 2017 LPG $3,744,400.00 $4,819,650.00 $3,794,080.00 $7,875,200.00 $6,903,680.00 Years
Challenges & Opportunities One problem faced is land space for installation of solar PV. Renewable Energy development projects (29% RE). Upcoming projects increases RE level to around 60% (World Bank & ADB).
Solution We looking to strengthen Renewable Energy and Energy Efficiency measures. RE options that can help with Solar PV. Explore other Renewable source that appropriate for Tuvalu.
Thank you Thank you
