SUVA, June 24 (Xinhua) -- The Fiji Competition and Consumer Commission has warned that the country's slow transition to renewable energy makes its power sector vulnerable to shocks in global fuel prices.
According to analysis from the commission, despite commitments to expand clean energy, there has been no major renewable energy investment in recent years, reported Fiji Broadcasting Corporation on Wednesday.
The analysis also showed that reliance on thermal generation has pushed fuel costs higher between 2020 and 2024, which has increased Energy Fiji Limited's exposure to global fuel price volatility.
Instability in the Middle East shows how quickly global events can lift electricity generation costs in Fiji, said Avneet Singh, Manager Economic Regulation of the commission.
He also raised concerns over the use of emergency diesel generation.
Consumers are bearing costs that should be reduced through better planning and investment decisions, Singh added.
The commission called for faster investment in renewable energy, which will strengthen energy security, cut dependence on imported fuel, and help stabilize electricity prices. ■