Public Disclosure Copy The World Bank Implementation Status & Results Report Eastern Caribbean Energy Regulatory Authority (ECERA) (P101414) Eastern Caribbean Energy Regulatory Authority (ECERA) (P101414) LATIN AMERICA AND CARIBBEAN | OECS Countries | Energy and Mining Global Practice | IBRD/IDA | Adaptable Program Loan | FY 2011 | Seq No: 7 | ARCHIVED on 16-Jun-2015 | ISR18486 | Implementing Agencies: OECS Secretariat Key Dates Key Project Dates Board Approval date:16-Jun-2011 Effectiveness Date:21-Jun-2012 Planned Mid Term Review Date:27-Feb-2015 Actual Mid-Term Review Date:27-Feb-2015 Original Closing Date:31-Dec-2016 Revised Closing Date:31-Dec-2016 Project Development Objectives Project Development Objective (from Project Appraisal Document) The objective of the Project is to establish and operationalize a regional approach to the development of the electricity sectorinParticipating Countries by supporting the establishment of the ECERA. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Setting up the ECERA:(Cost $2.61 M) Operationalizing ECERA:(Cost $2.99 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Moderately Unsatisfactory  Moderately Unsatisfactory Overall Implementation Progress (IP)  Moderately Unsatisfactory  Moderately Unsatisfactory Overall Risk Rating  Moderate  Moderate Implementation Status and Key Decisions 6/16/2015 Page 1 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Eastern Caribbean Energy Regulatory Authority (ECERA) (P101414) The PDO remains relevant to Grenada and St. Lucia. Both Participating Countries (PC) maintain the view that a regional approach to the development of the energy sector, including through the establishment of ECERA, is necessary to facilitate renewable energy scale up, increase private investment, improve utility performance, enhance energy efficiency, and facilitate technically and economically sound projectbs. The PCs will request the Bank’s approval for a project restructuring. A request will be made to adopt the following changes which are necessary to allow the project to achieve its Project Development Objective: (i) modify several of the results indicators to reflect the change in the scope of the project for Part B; (ii) seek approval for the extension of the closing date by up to two years; and (iii) reallocate unspent funds from Part A to Part B. 6/16/2015 Page 2 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Eastern Caribbean Energy Regulatory Authority (ECERA) (P101414) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  --  Moderate  Moderate Macroeconomic  --  Moderate  Moderate Sector Strategies and Policies  --  Moderate  Moderate Technical Design of Project or Program  --  Substantial  Substantial Institutional Capacity for Implementation and Sustainability  --  Moderate  Moderate Fiduciary  --  Moderate  Moderate Environment and Social  --  Low  Low Stakeholders  --  Moderate  Moderate Other  --  --  -- Overall  --  Moderate  Moderate Results Project Development Objective Indicators PHINDPDOTBL Entry into force of the ECERA as the regulator of Participating Countries electricity markets, materialized by ratification in Participating countries of the ECERA Treaty (corresponding to Part A). (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target ECERA Treaty No regional regulation or Preparatory activities Preparatory activities prepared and Value regulator for the electricty expected to continue expected to continue ratified by sector until September 2015 until September 2015 member states and Date 30-Jun-2011 11-Dec-2014 04-May-2015 31-Dec-2016 PHINDPDOTBL  Adoption of new licensing recommendations by the Council of Ministers (corresponding to Part B). (Text, Custom) 6/16/2015 Page 3 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Eastern Caribbean Energy Regulatory Authority (ECERA) (P101414) Baseline Actual (Previous) Actual (Current) End Target Exisiting licences with Provisions for inadequate provisions for Revised licensing incorporating promoting energy Will be executed under Value framework currently in best practices efficiiency, renewables, SIDS Dock grant Draft status. in the licencing IPPs and other recent best process practices Date 30-Jun-2011 11-Dec-2014 04-May-2015 31-Dec-2016 PHINDPDOTBL  Design and adoption of cost reflective and performance based tariffs in Participating Countries (corresponding to Part B). (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Independent Tariff setting process prepared by Prepared by consultants tariff setting depends on countries and consultants and will be and will be taken into process Value provisions in exisiting taken into account in account in redraft of reflecting costs licences and policies redraft of sector sector legislation. and adopted from time to time legislation. performance Date 30-Jun-2011 15-Apr-2014 04-May-2015 31-Dec-2016 Overall Comments Intermediate Results Indicators PHINDIRITBL  Draft treaty establishing the ECERA prepared, for approval of the Heads. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target ECERA treaty establishing a No agreement or institution ESA revision Lawyer to draft Treaty regional Value in place for regulation of underway, treaty will be being hired regulator is the electricity sector prepared in 2015 prepared for approval Date 30-Jun-2011 11-Dec-2014 04-May-2015 31-Dec-2016 6/16/2015 Page 4 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Eastern Caribbean Energy Regulatory Authority (ECERA) (P101414) PHINDIRITBL  Treaty establishing the ECERA ratified by Participating Countries. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target ESAs under ECERA Treaty Value No ECERA Treaty preparation, treaty in Target September 2015 ratified 2015 Date 30-Jun-2011 11-Dec-2014 04-May-2015 31-Dec-2016 PHINDIRITBL  Amendments to domestic legislation to operationalize the ECERA at a national level prepared, for review by the respective Attorneys General. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Legislation operationalizing No legislative basis to ECERA Value operationalize ECERA at In progress In progress adopted in the national level member countries Date 30-Jun-2011 11-Dec-2014 04-May-2015 31-Dec-2016 PHINDIRITBL  Full complement of staff for the ECERA hired. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target staffing will be reduced Staffing will be reduced Value No staff for the ECERA under proposed virtual under proposed virtual Staff hired. ECERA. Hiring in 2015. ECERA. Hiring in 2015. Date 30-Jun-2011 11-Dec-2014 04-May-2015 31-Dec-2016 PHINDIRITBL  Commissioners appointed. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Commissioners Value No Commissioners. expected 2015. expected 2015. to ECERA appointed. Date 30-Jun-2011 11-Dec-2014 04-May-2015 31-Dec-2016 6/16/2015 Page 5 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Eastern Caribbean Energy Regulatory Authority (ECERA) (P101414) PHINDIRITBL  Self Financing Mechanism for the ECERA approved and operational (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Self financing Value None Not yet implemented Not yet implemented mechanism operational Date 30-Jun-2011 12-Dec-2014 04-May-2015 31-Dec-2016 PHINDIRITBL  Licensing rules enabling new investments in electricity generation designed (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Licensing rules Independent Power permitting IPPs Producers (IPPs) and Value In progress In progress and distributed Distributed Generation generation (DG) not permitted. established. Date 30-Jun-2011 12-Dec-2014 04-May-2015 31-Dec-2016 PHINDIRITBL  Authority’s decision on tariff designed and adopted (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target new tariff rules/design Will be implemented Value None In progress adopted by after ECERA launches participating countries Date 30-Jun-2011 12-Dec-2014 04-May-2015 30-Dec-2016 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P101414 IDA-49350 Effective USD 2.80 2.80 0.00 0.96 1.58 34% P101414 IDA-49360 Effective USD 2.80 2.80 0.00 0.96 1.56 34% 6/16/2015 Page 6 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Eastern Caribbean Energy Regulatory Authority (ECERA) (P101414) P101414 TF-16770 Effective USD 0.30 0.30 0.00 0.13 0.18 42% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P101414 IDA-49350 Effective 16-Jun-2011 23-Sep-2011 21-Jun-2012 31-Dec-2016 31-Dec-2016 P101414 IDA-49360 Effective 16-Jun-2011 23-Sep-2011 21-Jun-2012 31-Dec-2016 31-Dec-2016 P101414 TF-16770 Effective 17-Oct-2013 05-Nov-2013 05-Nov-2013 31-Aug-2014 31-Aug-2015 Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 6/16/2015 Page 7 of 7 Public Disclosure Copy