Energy experts in a dialogue on Thursday emphasised the revision of Bangladesh鈥檚 existing energy pricing system, particularly for fuel oils, for the betterment of both consumers and producers.
Think tank Centre for Policy Dialogue, in partnership with the Australian High Commission in Bangladesh, organised the event at a Dhaka hotel amid criticism of the automated fuel oil pricing formula adopted by the deposed government. The dialogue began with a presentation of policy recommendations by CPD research director Khondaker Golam Moazzem, and researchers Helen Mashiyat Preoty and Faisal Quaiyyum.
The recommendations included market-based energy pricing, full control of Bangladesh Energy Regulatory Commission on energy pricing and adaptation of Artificial Neural Network-based model at the importing points.
From the investors鈥� point of view, EMA Power Investment director Abu Bakar Siddique Ali Chowdhury said, 鈥楶ricing of energy is totally a political decision. The government must design how its energy regulatory bodies protect the consumers鈥� rights while facilitating the investors.鈥�
Bangladesh Independent Power Producers鈥� Association vice-president Humayun Rashid said the regulatory bodies should ensure quality energy supply at fair price to the investors. 鈥楾he availability of energy at right prices and policy support are crucial for attracting investors in the field.鈥�
Professor M Shamsul Alam, energy adviser to the Consumers Association of Bangladesh criticised market-based energy pricing. He also questioned Bangladesh Petroleum Corporation as it controls fuel oil pricing despite not being a regulatory authority.
Citing some under-development projects, including pipeline installation from Cox鈥檚 Bazar to Narayanganj to facilitate automation in the imported oil transportation, BPC chairman Amin Ul Ahsan said fuel oil price could be reduced by checking pilferages and wastage.
Bangladesh Energy Regulatory Commission chairman Jalal Ahmed stressed the need for thorough examination of the audit reports of the BERC-licensed companies, including BPC.