"I've seen that its potential is too huge and this industry can be a $US1.2 billion (K4.2 billion) industry," he said.
The National newspaper reported that Onglo said some countries depended on wind for power generation while others depended on hydro 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.
Incoming Energy Minister 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. 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."
He says the National Energy Authority Bill will be tabled in parliament in April.
"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," Soloma said.