NITI AAYOG PROPOSES ONE REGULATOR FOR ENERGY

New Delhi,June 28: Niti Aayog has made a case for a single regulator to govern India’s energy market to make ‘India’s economy energy ready’ in the year 2040.

The National Energy Policy (NEP) released by Niti Aayog proposes actions to meet the objectives in such a way that India’s economy is ‘energy ready’ in the year 2040.

“Coal and upstream petroleum sectors have lacked independent, statutory regulators. Due to several reasons, including strong presence of PSUs and limited number of private operators, it was so far not found useful to place the latter in position,” said the draft National Energy Policy (NEP) on which Niti Aayog has sought public feedback till July 14, 2017.

“But, now with increased private activity, the time is appropriate. Ideally, there ought to be a single regulator to govern the energy market,” it added.

With regard to new regulators (coal and upstream petroleum), the draft NEP said the statutory provisions will be so made to provide for effective regulators.

Noting that energy is handled by different ministries coal, power and petroleum that have the primary responsibility of setting their own sectoral agenda, the draft said, “An omnibus policy is required to achieve the goal of energy security through coordination between these sources.”