Bangladesh can gradually overcome its electricity shortage and ease the ongoing energy crisis by expanding renewable energy generation, provided the government maintains policy support and facilitates low-cost financing, Bangladesh Energy Regulatory Commission (BERC) Chairman Jalal Ahmed said on Friday.
He also called for a proper investigation into allegations of corruption in the quick rental power sector, noting that electricity prices remained high even after investors had recovered their investments.
Jalal made the remarks while addressing a shadow parliament on “Investment in Renewable Energy to Ensure Energy Security” at the Bangladesh Film Development Corporation (BFDC).
He urged coordinated initiatives to encourage industries and other investors to invest in renewable energy and stressed the need for a balanced mix of energy sources to ensure long-term energy security.
“Energy security requires greater emphasis on a balanced and integrated fuel management system,” he said.
Referring to quick rental power plants, the BERC chairman said they were initially intended to operate for three years, with electricity priced at around Tk 16 per unit. However, even after investors recovered their investments, electricity was purchased at nearly the previous rate when contracts were renewed, rather than being priced based solely on operational costs.
He said allegations of corruption in the quick rental power sector could not be ruled out and stressed the need for a proper investigation.
