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Energy & Power - EP_22_01 (Energy & Power Vol 22 Issue 01 June 16, 2024)

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The FY 2024-25 budget, unveiled on June 6, allocates Tk 797,000 crore, a modest increase from the outgoing fiscal year. Significantly, funding for the power and energy sector has been cut by Tk 4,502 crore, bringing it down to Tk 30,317 crore. A special Tk 100 crore allocation for renewable energy has been introduced. Still, it also raises tariffs on imported fuels, which could lead to higher energy costs and contribute to inflation, affecting the prices of essential goods. The energy sector is grappling with major challenges like large unpaid bills, growing reliance on imported fuel, and regular price hikes. Yet, the budget falls short in addressing these issues. It doesn’t provide enough funds for exploring natural gas or outline new strategies to boost renewable energy, crucial for reducing dependence on imports. The main reason behind soaring fuel prices is our heavy reliance on imports, a problem the budget doesn’t tackle. Electricity tariffs are also affected by high reserve margins, with substantial capacity charges projected to hit Tk 32,000 crore next fiscal year. Despite these costs, the government plans to build 27 new power plants, which would increase capacity. Experts suggest renegotiating capacity charges and enhancing transparency to cut costs and avoid wasteful spending.
However, the budget does not propose any measures to cut subsidies, which have increased, raising concerns about the future financial burden on consumers and industries. Consumers expect the issues of concern to be addressed before passing the budget by the end of this month.
Energy & Power steps into its 22nd year of publication on 16 June this year. Marking the occasion, we hope to bring out our anniversary issue in August.

Energy & Power Description:

Yayımcı: Energy-&-Power

Kategori: Business

Dil: English

Sıklık: Fortnightly

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