The Electricity sector regulations and rules must be updated with the changing landscape as the nature of electricity is changing, with new players, types of systems, and products, said R. K. Singh, Union Power, and Renewable Energy Minister, while inaugurating Central Electricity Regulatory Commission’s new office at the World Trade Centre in Nauroji Nagar, Safdarjung Enclave, New Delhi, on Thursday.
During the ceremony, Minister Singh addressed the officers, staff of CERC, and other stakeholders in the power sector, highlighting the pivotal role regulatory commissions play in maintaining the health of the power sector. He emphasized the critical function of regulatory bodies like CERC and State Electricity Regulatory Commissions (SERCs) in shaping the operational dynamics and viability of the power system.
Minister Singh underscored the delicate balance required by regulatory commissions to ensure the power system’s sustainability while safeguarding public interests. He acknowledged the multitude of challenges, particularly for SERCs operating within the political dynamics of states. Minister Singh emphasized the importance of fair tariff decisions to prevent undue financial burdens on consumers while ensuring the viability of power companies.
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Highlighting the evolving landscape of the power sector, Minister Singh emphasized the need for rapid expansion and strengthening across all facets, including generation, transmission, and distribution. He stressed the urgency in determining tariffs to support the addition of capacity and prevent strain on the system.
Minister Singh concluded by emphasizing the critical importance of timely decisions and pass-throughs to maintain the viability of power companies and ensure the smooth functioning of the power sector. He reiterated the significance of the regulatory commissions’ role in facilitating a sustainable and robust power infrastructure for the nation’s growing energy demands.