08/11/2022 - Energy

KEY POINTS

·        Central Electricity Regulatory Commission (CERC) introduced the Cross Border Electricity Trade (CBET) Regulations in 2019 to facilitate this in an efficient and transparent manner through energy exchange platforms.

·        This was followed by the notification of CBET Rules in 2021 by the Central Electricity Authority, India.

·        Pursuant to this, Inter-country power trade through the Exchange Market can help in discovery of competitive prices and optimal power procurement.

·        Nepal Electricity Authority (NEA) started selling surplus monsoon electricity through competition in the day-ahead market since June 2022.

·        Bhutan started trading on Indian Day ahead market in January 2022, importing power for a maximum of 400 megawatt (MW) for import during the lean season.

·        Bangladesh’s reliance on fossil fuel to produce power has led to prohibitive costs and its generation is 560 kWh per capita.

·        Through CBET, Bangladesh can import power from India, with the pricing of this energy being optimized through the country’s participation in spot markets.

·        As more of India’s neighbouring countries begin to participate in CBET, a South Asian power market will emerge which will allow for a price discovery that will be unique for the region.

·        CBET will prove to be mutually beneficial for all participating countries and usher in economic and sustainable development to the entire region.

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