Bangladesh to adjust energy prices without public hearing in special circumstances

0 Comment(s)Print E-mail Xinhua, November 28, 2022
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DHAKA, Nov. 28 (Xinhua) -- The Bangladesh cabinet has approved a provision that paves the way for the authorities to introduce a "dynamic energy pricing" system in the country.

The approval was made at a meeting chaired by Prime Minister Sheikh Hasina at the Prime Minister's Office (PMO) Monday.

After the meeting, Cabinet Secretary Khandker Anwarul Islam told journalists that "electricity and gas prices could be adjusted without holding any public hearing through the special circumstances provision."

Under the dynamic pricing method, he said energy prices are adjusted automatically based on changes in prices in the global market and other factors affecting supply.

The approval comes following a proposal to amend the Bangladesh Energy Regulatory Commission (BERC) Ordinance 2022 to include the provision.

Normally, the BERC holds a public hearing before adjusting energy prices and the process takes up to 90 days.

He further said the relevant government authorities could now adjust prices within a day or two in an emergency situation. Enditem

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