Energy prices to align with int’l market soon

Bangladesh will soon set electricity and gas prices on the basis of international market rates, said State Minister for Power, Energy and Mineral Resources Nasrul Hamid on Thursday.

He made the remarks in response to a question from journalists at a workshop in the capital, adding that the government is planning to phase out subsidies that the energy and power sector has been receiving for a long time.

Titas Gas Transmission and Distribution Company has recently made a proposal to Bangladesh the Energy Regulatory Commission (BERC) seeking to hike residential gas prices.

On the issue, Nasrul said, “Work is underway to formulate a policy for determining the electricity and gas prices that align with international rates.”

“The government’s main goal now is to provide affordable electricity. As a part of the goal, an initiative has been taken to set up a solar power plant with a capacity of 2,000 MW within the next two years.”