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The commission was created in 2003 and is responsible for the setting of gas, petroleum oil and electricity prices in Bangladesh. As the regulator, it also arbitrates disputes in the energy industry. [2] Its approval is needed for any changes in the price of electricity, gas and petroleum oil. [3] The Energy Security Fund is under this agency. [4]
Energy balance, in terms of energy economics, is concerned with all processes within an organization that have a reference to energy. It derives from the ecobalance and has the ambition to analyze and verify the emergence, transformation and use of energy resources in an organization in detail. [ 1 ]
[1] [2] It is mainly responsible for all policies and matters relating to electricity generation, transmission, and distribution from conventional and non-conventional energy sources including hydro electricity. It also deals with the Import, Distribution, Exploration, Extraction, Pricing, and other policy related details of the primary fuels.
In 2009, the Government of Bangladesh developed a Renewable Energy Policy which calls for renewable energy to be 10 percent of the total energy produced in Bangladesh. The government established the Sustainable and Renewable Energy Development Authority to support the Renewable Energy Policy through the Sustainable and Renewable Energy Development Authority Act in 2012.
Natural gas accounts for about 70% of the country's commercial energy supply. According to a study conducted in 2003 by Hydrocarbon unit of the Energy and Mineral Resources Division and Norwegian Petroleum Directorate, the initial gas reserve of the 22 discovered gas fields of the country amounts to 28.4 trillion cubic feet (TCF) out of which 20.5 TCF is considered recoverable.
A similar term to balance of system is “balance of plant (BOP)” which is generally used in the context of power engineering and applies to all the supporting components and systems of the power plant which are needed to produce the energy. These may include suitable transformers, inverters, cabling, switching and control equipment ...
The utility electricity sector in Bangladesh has one national grid operated by Power Grid Company of Bangladesh with an installed capacity of 25,700 MW as of June 2022. Bangladesh's energy sector is not up to the mark. However, per capita energy consumption in Bangladesh is considered higher than the production. Electricity was introduced to ...
By 2013, India became the world's third largest producer of electricity with 4.8% global share, surpassing Japan and Russia. [45] [46] India ranks 6th globally in hydropower generation during the year 2019. [19] India had set a target of 175 gigawatts (GW) of renewable energy (excluding large hydro) capacity by 2022. [47]