Sri Lanka forum mulls harmonizing South Asian energy rules
ECONOMYNEXT – Energy regulators in South Asian countries are considering proposals to harmonise regulations at a forum in the Sri Lankan capital Colombo with the aim of sharing and creating a common market for electricity in the region.
Electricity is one of the lowest per capita consumption utilities in the South Asian Association for Regional Cooperation (SAARC) region, said M. I. M. Rafeek, Secretary to Sri Lanka’s Ministry of National Policies and Economic Affairs.
It is the responsibility of energy regulators to ensure wider availability of electricity, he told the 2nd meeting of SAARC Energy Regulators hosted by the Public Utilities Commission of Sri Lanka.
The forum is considering ways to promote cross border energy trade in the region and to harmonize legal, policy and regulatory frameworks, said Ali Haider Altaf, Director of the SAARC Secretariat.
It will also consider the possibility of establishing a ‘Regional Energy Regulatory Authority’ or a forum of energy regulatory authorities, Altaf said.
Energy regulators are considering ways to remove regulatory barriers for cross border trade and exchange of electricity among the SAARC member states under the organisation’s
Plan of Action on Energy Regulations.