Energy & Power Magazine - EP_21_24 (Energy & Power Vol 21 Issue 24 June 1, 2023)

In this issue

Bangladesh is facing its most severe energy crisis in 52 years, affecting every aspect of life—from industry and trade to daily living—and pushing inflation higher. The energy sector is buried under a $5 billion liability, and despite having the ability to generate more power, the country still suffers from frequent power cuts. The demand for gas, crucial for power plants, factories, and businesses, far exceeds the supply. Almost half of the country's energy needs are met through imports, paid in US dollars, which has become more expensive due to the Taka’s recent devaluation. About 22% of gas is imported as LNG, and 60% of local gas comes from international companies, with all payments made in dollars. Additionally, Bangladesh imports 2,500MW of electricity from India, further straining the economy. Experts warn that unless Bangladesh starts exploiting its coal resources, speeds up petroleum exploration, and increases the use of renewable energy, the crisis will worsen. The devaluation of Taka, coupled with post-COVID fuel price shocks, has kept the country in a financial tangle. Projections indicate that the Taka might stabilize at Tk 125 per US dollar by the end of 2024.

Unplanned increases in power generation have led to higher costs and energy insecurity. Current subsidies are substantial. Reducing reliance on imported fuel and tapping into domestic resources are crucial steps needed to stabilize the economy and curb inflation. Without these measures, Bangladesh's journey towards becoming a developed economy will remain difficult and uncertain.

Energy & Power Magazine Description:

Energy & Power (EP) is the first and only full-fledged fortnightly magazine that deals with the much cried over energy and power sector in Bangladesh. Since its inception in June 16, 2003, EP is working very hard to 
a) Develop public consciousness on sustainable and even development of energy sector; 
b) Assist the policy makers in assuming pragmatic policies for a balanced development of the energy sector; 
c) Continuous supply of information among public; and 
d) Develop a group of reporters in this field 

Bangladesh is an energy deficit country like other countries in the region and most of the people do not have adequate access to the energy and power. The country is completely dependent on fossil energy source; at the same time, it is one of the most inefficient energy using countries in the world. 
It lacks efficiency in planning, management, generation, distribution, load management and even at the end user level consumption. 
In spite of the above drawbacks, issues relating to utilization of renewable energy, exploring alternative use of energy, planned use of environment friendly energy are significantly undermined in Bangladesh. 
The biggest challenge of Bangladesh is to find a path for balanced growth of its energy sector. Despite its resource constraints, EP dynamically strives to provide theenergy sector with a flow of information and create public awareness; so that policymakers get guidelines and platforms for its sustainable development.

Code of Ethics 
EP believes that public enlightenment is the forerunner of justice and the foundation of democracy. The duty of a journalist is to further those ends by seeking truth and providing a fair and comprehensive account of events and issues and professional integrity is the cornerstone of a journalist's credibility. We strive to serve the public with thoroughness and honesty.

The EP editorial policy is to share a dedication to ethical behavior and uphold the zero conflict of interest principles and highest standards of practice. 

EP believes in 
o Seeking truth and reporting the same 
o Minimize harm