Power, energy prices change more than once a year

The Cabinet has nodded the draft of Bangladesh Energy Regulatory Commission (Amendment) Act, 2019 allowing the government to bring change in prices of power and energy (hiking or reducing) more than once a year.

The approval came in regular meeting of Cabinet at the Prime Minister’s Office in Dhaka on Monday.

After the meeting, Cabinet Secretary Khandaker Anwarul Islam briefed the journalists at Bangladesh Secretariat.

The secretary said there was a provision in Energy Regulatory Commission Act, 2003 that allowed the government to coordinate prices of power and energy once a year.

According to the amended law, the BERC now can change its fixed tariff of power, gas and energy products once or more than once a year by single or separate order.   

Explaining this change, the secretary said they (BERC) have seen that it may necessary to change tariff in many times because of international market's influence or any other scenario. 

If the law comes into effect, BERC can raise prices of power, gas and energy products more than once a year, he replied to this query that the commission can hike it and also can reduce.