The Power Division has confirmed that there is still a 1,000MW demand gap for the peak demand season which regularly occurs during the hot weather and Boro planting period around April-May.
With demand for electricity growing annually, there is not only the likelihood of more load-shedding this year, but the long-term picture for energy supplies is still at risk.
Best estimates suggest that by 2030, supplies of gas, the country’s primary energy source for power production, will stand around only one-third of projected demand.
The government needs to ensure more effective long-term planning to guarantee future energy security. It is not enough for it to focus on boosting short-term electricity production by 2021, if future sustainability is not also assured.
Many industries are already suffering and are unable to grow due to a lack of secure gas supplies. The economy needs more reliable power supplies to keep creating the jobs and improved living standards which people in Bangladesh need to adapt to the negative consequences of climate change.
Subsidies which artificially keep the costs of gas and electricity low have to be cut. This would not only save taxpayer money that could be better invested in education and development, but would provide power companies with more funds to invest in improving distribution and production.
Just as important, it would cut waste and unnecessary greenhouse emissions and help incentivise efforts to increase renewable energy sources. We must think long-term if we are to ensure the sustainable energy supplies the country needs.