6 Summary The Government of Saint Lucia provides direct subsidies on the use of LPG and price support to diesel and gasoline by setting a price cap to limit the impact of the increase of international prices of oil products. [...] The models estimated the fiscal savings from subsidy and price cap removals, explored the impacts of reallocation of increased revenues to other programs including energy efficiency and renewable energy and estimated the impact of FFSR scenarios on GDP and CO2 emissions. [...] The modifications of the scenarios incorporating the feedback received and the results of the fossil fuel subsidy/taxation modelling were presented in the 3rd stakeholders consultation workshop. [...] The discussion focused mainly on the timing of fossil fuel subsidy and taxation reform, the different options of revenues reallocation and the impact of the reform to GDP and CO2 emissions. [...] The energy bill in the FFSR R10 scenario develops similarly to the energy bill in the BAU scenario, despite the additional energy demand from increasing economic growth (real GDP) and the higher energy prices due to FFSR.
- Pages
- 32
- Published in
- South Korea
