Bangladesh
Nasrul Hamid Fuel oil-gas-electricity prices will be adjusted every month
Dhaka, January 10: The government is setting a strategy to adjust the prices of fuel oil, gas, and electricity every month as mandated by the 'Bangladesh Energy Regulatory Commission (Amendment) Ordinance, 2022'.
Minister of State for Power, Energy and Mineral Resources Nasrul Hamid said this after the signing ceremony of the Power Purchase Agreement (PPA) and Implementation Agreement (I) of the Sirajganj 68 MW Solar Park project at Bidyut Bhaban in the capital on Monday (January 9).
After the approval of the cabinet, the 'Bangladesh Energy Regulatory Commission (Amendment) Ordinance, 2022' was promulgated on December 1. According to this ordinance, in special cases, Bangladesh Energy Regulatory Commission (BERC) will be able to determine, reschedule and coordinate the prices of fuel oil, electricity and gas at the consumer level. When asked when the price of fuel oil will be adjusted in coordination with the world market, the state minister said that an adjustment has been made now. We are developing a mechanism (strategy) so that this adjustment continues every month.
When he was asked, will it be only in the case of oil, or will it be in the case of electricity and gas, then he said, "No, all."
Meanwhile, the technical committee of the Bangladesh Energy Regulatory Commission (BERC) has recommended to increase the retail price of electricity at the consumer level by Tk 1.21 per unit. This information was announced after the public hearing on the proposals of transmission companies and distribution companies at Biam Auditorium in the capital on Sunday (January 8).
BERC Chairman Md. Abdul Jalil and four members were present in the public hearing. In this, the interested parties present arguments in favor of their respective proposals. Currently, the retail price of electricity is Tk 7.02 per unit. The committee has recommended to increase it by Tk 1.21 to Tk 8.23.
After the announcement of increase in wholesale electricity prices in November last year, the distribution companies applied for the increase in retail prices. After those applications are evaluated by the technical committee, they come to the public hearing.
The regulator BERC decided to increase the wholesale electricity price by 19.92 percent on November 21 to reduce the subsidy. The last time in February 2020, electricity prices were increased at all levels. At that time, the wholesale price was increased by 8.4 percent and the general consumer or retail level was increased by 5.3 percent.
