April 11, 2014 - Stunning! We pay more in the TCI to Fortis for fuel for their Fossil Fuel Generators than we pay for Food - Approx $70 - $75 million per year for fuel vs $65 million for food The 55 page External Merchandise Report for the Turks and Caicos Islands (download link posted today on the TCI Journal) confirms that we pay more for fuel to run Fortis’s fossil fuel generators than we do for food! A movement to renewables for our electricity would inject more than $50 to $75 million dollars into our economy. This, along with the multiplier effect an injection of this sort would have, would represent more than 10% of our yearly GDP of $750 million. The following charts show the increase in cost for fuels from $50 million in 2007 to $96 million in 2013, and then the breakdown of the numbers for 2011, 2012, and 2013. The increase in dollar value is primarily due to the increasing costs for dirty fossil fuels. Other than about $20 to $25 million for other uses, the balance of the $93 million for petroleum products is for Fortis’ fossil fuel generators.
Posted on: Wed, 16 Apr 2014 10:56:48 +0000