Investments needed to avert looming energy crisis

“The nation’s energy production has reached its limit,” said Finance Minister Stanley Raghoebarsing who explained that energy consumption has surged drastically since October 2023 while there was no increase in the production capacity. This is cause for concern as the nation could face a huge energy crisis if no investments are made as soon as possible. Minister Raghoebarsing made it clear that urgent investments must be made to advert the looming energy crisis. One option would be to invest in an alternate energy sources such as solar energy. Adding more diesel generators would only result in a hike of the price of electricity. The hydro plant which is located in the Brokopondo District also is not running at full capacity due to the low water level. “The cheap electricity is nearly depleted so we will have to switch to using fuel to generate electricity,” said Minister Raghoebarsing. The price of electricity is expected to go up again due to the current price of one barrel of crude oil on the international market. If energy consumption increases with 20 percent, the nation will head straight for a crisis. Minister Raghoebarsing pointed out that another option would be to reduce energy consumption drastically. “It is possible to consume less electricity.”…[+]