Papua New Guinea's energy sector is worth about US$1.2 billion (K4.2bil) if properly developed, according to the country's outgoing Energy Minister William Onglo.
“I’ve seen that its potential is too huge and this industry can be a US$1.2 billion industry,” he said.
 |
| William Onglo |
Onglo said some countries depended on wind for power generation, others depended on water and some on thermal. “We have the energy resources to supply electricity to all our people (but) we are not getting it right,” he said.
“That’s why the policy and national electrification rollout plan plans are the guide.
“Petroleum has taken over the upstream.
“The energy has basically taken over everything downstream.”
His successor, Saki Soloma, said the energy sector was fragmented, uncoordinated with poorly managed electricity services resulting in unreliable, limited or no energy access for customers.
“As a result, there are conflicting roles, mandates and poor performance by the institutions involved in the regulation of the energy sector,” he said.
“These concerns have also been raised by the development partners, donors, financiers and other energy stakeholders.
“Legislation is, therefore, required to address these issues affecting the energy sector.”
Soloma plans to table in Parliament, in April the recently approved National Energy Authority Bill.
“The Bill will establish the National Energy Authority as well as the electricity and energy law for the energy sector,” he said.
“The enactment of the Bill will create a one-stop-shop regulatory authority.
“There will be no more fragmentation or scattering of the regulatory functions currently housed in a number of agencies of the Government.”