The price of electricity in the CARICOM region (excluding Trinidad and Tobago and Suriname) is among the highest in the world, often reaching twice the rates paid in Latin America. These elevated costs serve as a major drag on economic development and export competitiveness, with energy imports consuming approximately 7% of regional GDP. As the region shifts toward renewable energy to mitigate these costs, the lack of transparency in power contracting remains a critical barrier to sustainable growth.

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