LBR LBO Summit
LBR LBO Summit

SAARC should consider common energy framework


Feb 08, 2016 (LBO) – South Asian energy regulators are looking at ways to promote cross border energy trade through a common market in the South Asian region, a SAARC official said at a forum in Sri Lanka, Monday.

The forum wants to promote cross border energy trade in the region by harmonizing legal, policy and regulatory frameworks and look at establishing a Regional Energy Regulatory Authority among the energy regulators of the member countries, Ali Haider Altaf, Director of the SAARC Secretariat said.

He was speaking at the 2nd meeting of SAARC Energy Regulators hosted by the Public Utilities Commission of Sri Lanka.

“The unionism of Energy Regulators in SAARC countries underline the need for strengthening the cooperation and aim for accelerated economic growth and improving the quality of the life of the people of South Asia,” M. I. M. Rafeek, Secretary to Sri Lanka’s Ministry of National Policies and Economic Affairs said.

“I also believe that if we can light up each other’s towns and villages we can build a brighter tomorrow for our region.”

The electricity coorporation in the region includes sharing of cross border infrastructure, regional power production, encouraging and enhancing fair competition across regional markets.

Formulation of the SAARC Energy Regulators forum is going to create a market of electricity, Rafeek said.

“We also observe a growing coorporation; especially in the area of energy and gradually concreting its shape. It’s important that all governments should provide great support to the market players in energy sector and the regulators can play a vital and significant role in this scenario,”

Electricity is shown as one of the lowest per capita consumption utility. It is the responsibility of the Energy Regulators to explore the avenues of overcoming these situations, he added.