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CERC inaugurates new office space at World Trade Centre

March 8, 2024 12:30 pm

CERC inaugurates new office space at World Trade Centre

Union Minister emphasises regulatory role, challenges, and need for expansion in power sector.

The Central Electricity Regulatory Commission (CERC) has acquired new office space located at World Trade Centre, Nauroji Nagar, Safdarjung Enclave, New Delhi. The inauguration of the new office space was conducted by the Union Minister for Power and New & Renewable Energy, R. K. Singh, at a function held at the new office premises on March 7, 2024.

Addressing the officers and staff of CERC and other power sector stakeholders, the Union Minister emphasised the crucial role that regulatory commissions play in ensuring the health of the power sector. He highlighted that regulatory commissions serve as the fulcrum of the power system, determining its functioning and viability through regulations, tariff decisions, and passthroughs.

The Minister underscored the challenge faced by regulatory commissions in balancing the viability of the power system with the public interest in affordable electricity tariffs. He stressed the importance of maintaining this balance to ensure the system’s sustainability while safeguarding consumer interests.

Highlighting the need for expansion and strengthening of the power system, the Minister emphasised the critical role of both CERC and State Electricity Regulatory Commissions (SERCs). He noted the increasing demand for electricity and the necessity for substantial investments in generation, transmission, and distribution infrastructure.

The Minister emphasised the importance of timely tariff determination to support investment and maintain the financial viability of companies involved in the power sector. He also highlighted the need for government financing to support maintenance, replacement, and expansion of the power system, particularly due to the financial constraints faced by state governments.

Acknowledging the changing nature of the electricity sector, including the rise of renewable energy and energy storage, the Minister stressed the importance of updating regulations to adapt to these changes effectively.

He also emphasised the need to ensure adequate financing for energy storage and to make it an attractive option for investment. In conclusion, the Minister affirmed the central role of Electricity Regulators in navigating the complexities of the evolving power sector.

During the event, the Chairperson of CERC, Jishnu Barua, provided updates on the Commission’s recent activities, including the finalization of draft tariff regulations. He expressed confidence in CERC’s ability to formulate robust regulations that would benefit citizens and encourage investment in the sector.

The Chairperson also thanked the government for approving the acquisition of the new office premises, providing details about the office space acquired by CERC at the World Trade Centre.

Established in 1998 under the Electricity Regulatory Commission Act, 1998, CERC has been entrusted with various functions, including regulating tariffs and advising the government on electricity policy matters. Over the years, it has expanded its operations and recently relocated to the World Trade Centre to accommodate its growing responsibilities.

The event was attended by members of CERC, senior officials from the Ministry of Power and Ministry of New and Renewable Energy, as well as CEOs of major PSUs in the power sector.

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