The Union minister said that with ease of doing business and transparency, the investments in the power sector has been growing
Jishnu Barua has become the new chairperson of power regulator Central Electricity Regulatory Commission (CERC). "Union Minister for Power R K Singh administered the oath of office and secrecy to Jishnu Barua, chairperson, Central Electricity Regulatory Commission (CERC), here today," a power ministry statement said. Barua has been appointed chairperson of the CERC on February 27, 2023.
Barua was chief secretary of Assam from October 2020 to August 2022. Prior to this, he had been additional chief secretary to Assam looking after various departments of the state from August 2017 to October 2020. Post-retirement, Barua held the charge of chairperson of Assam Power Distribution Company Ltd.
Barua holds M.Phil degree in Defence and Strategic Studies, PG (History) Degree and Graduation (Philosphy) degree. During his interaction with the new CERC chairperson, Singh commended the good work done by him during his stint as chairperson of the Assam Power Distribution Company Ltd and said that the power system in the country has improved significantly in recent years.
He added that the current capacity is enough to cater to the electricity demand. However, since the economy is growing at close to 7 per cent and the electricity demand at 10 per cent, the power system needs to be ready to cater to this increasing demand for the next decade or so.
The Union minister said that with ease of doing business and transparency, the investments in the power sector has been growing. He, however, said that there was need to keep working towards ensuring a enabling investment climate in the sector. Power Secretary Alok Kumar said that India needs a forward-looking and progressive central regulator with large-scale integration of renewable energy and green hydrogen expected in near future.
He also added that the new chairperson will have a greater responsibility as chairperson of the forum of regulators, where state electricity regulatory commissions are represented, to ensure that power utilities and distribution companies remain financially sound. The CERC has been established by the government of India under the provisions of the Electricity Regulatory Commissions Act, 1998. CERC is the central commission for the purposes of the Electricity Act, 2003 which has repealed the ERC Act, 1998.
The commission consists of a chairperson and four other members, including Chairperson, Central Electricity Authority, who is the ex-officio member of the commission. Major functions of CERC under the Act are, inter-alia, to regulate the tariff of generating companies owned or controlled by the central government, to regulate the tariff of other generating companies having a composite scheme for generation and sale of electricity in more than one state, to regulate the inter-state transmission of electricity and to determine tariff for such transmission of electricity, etc.
Under the Act, CERC shall also advise the central government on formulation of national electricity policy and tariff policy; promotion of competition, efficiency and economy in activities of electricity industry; promotion of investment in electricity industry; and any other matter referred to the central commission by the government.