The announcement that a new tariff structure, reflecting a 4 cent (13.8%) reduction in utility rates, would be put in place by May 1 is great news for the community. Recent surveys indicate that high energy costs have contributed heavily to inflation in St. Maarten. The SHTA believes that this reduction will make a valuable contribution to helping to bring down the cost of doing business and cost of living.
Minister Heyliger's announcement that once the shares of GEBE are divided and transferred to St. Maarten, giving St. Maarten 100 percent ownership of the company, is a tremendous advantage for country St. Maarten. The fact that this gives St. Maarten the possibility to delve into alternate energy, sewage and garbage initiatives has the potential to give St. Maarten a competitive advantage.
The SHTA believes that the creations of policies which encourage the sustainable development of alternate energy are critical to the St. Maarten's ability to maintain a vibrant and competitive economy. Hopefully these policies would include making investments into alternate energy tax deductible, and allow for excess energy to be fed back into the GEBE grid.
