Bangladesh Energy Regulatory Commission (BERC) will fix the prices of gas and electricity through public hearings, not by any executive order, said Energy Adviser Muhammad Fouzul Kabir Khan.
He said this while speaking at a seminar titled ‘Sustainable Energy for Bangladesh and Challenges’ held at a hotel in the capital on Sunday.
The Foreign Investors' Chamber of Commerce and Industry (FICCI) organised the seminar.
He said the government wants to dig 50 exploration wells by 2025, and all procurements in the energy and power sector will be done through open tenders.
Regarding political parties queries how long the interim government will remain there, he said that the current government will not get much time to reform the energy and power sector.
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The adviser termed the ‘demand season’ like paddy harvesting, but the logical demands of the Palli Vidyut Samiti have been accepted. “A decision will be taken after taking into account the demands made by the temporary workers to make them permanent. No sudden announcement can be made,” he pointed out.
Industry leaders, policymakers and academics attended the event to discuss pressing challenges and potential solutions to the country's energy sector.
The energy adviser said that the government's commitment to fostering a sustainable energy future for Bangladesh, highlighting ongoing initiatives to enhance energy efficiency and diversify energy sources.
Dr Ijaz Hossain, former Dean of the Bangladesh University of Engineering and Technology (BUET) and a prominent professor in the Department of Chemical Engineering, presented a detailed analysis of Bangladesh's energy landscape, noting significant shifts in energy consumption patterns.
As of 2022-23, the industrial sector's consumption of grid electricity was only half that of the domestic sector, a stark contrast to 2010 when both sectors consumed similar amounts, he pointed out.
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This change, he noted, is largely due to the expansion of rural electrification.
Dr Hossain also addressed the urgent need to maintain natural gas production levels, warning that without the drilling of at least ten new wells annually, the country may face increased reliance on Imported LNG.
He forecast that the gas demand could reach 4,622 mmcfd by 2030, posing a significant challenge to Petrobangla's capacity to supply.
Nowshad Ali, Country Manager of GE Vernova Bangladesh, served as the moderator, guiding the discussions and facilitating a dynamic exchange of ideas among panelists and attendees.