United News of Bangladesh

Energy experts at an energy talk in the capital on Saturday urged Bangladesh to phase out fossil fuels and ensure a just transition to renewable energy. A group of nine green platforms organised the energy talk at the Liberation War Museum in the afternoon. “Renewable energy is cheaper and makes sense to be used for development for its sustainability,” said Khondaker Golam Moazzem, research director, Centre for Policy Dialogue, a non-government think-tank. Over the years, Bangladesh pursued a flawed economic forecast and energy policy, ending up in overwhelming reliance on fossil fuel use, he said. The result proved to be devastating with a massive amount of money spent in paying capacity charges to idle power plants, requiring the payment of huge energy subsidies, he said. Excessive expenditures, however, failed to reduce the country’s energy crisis with frequent power outages occurring, affecting life and business, the energy expert said. The energy talk was attended by over 200 students. Govt aims high in generating power from renewables “We need to ensure that energy transition is in line with just transition,” said Harjeet Singh, strategic adviser of Fossil Fuel Non-Proliferation Treaty, an international campaign to stop fossil fuel exploration and expansion. Fossil fuel use might look promising and beneficial at the moment because of its falling prices, he said, but fossil fuel investments are destined to get stranded. Sharif Jamil, member secretary, Dhoritri Rokhhay Amra, a civil society green initiative, also spoke at the event.

Energy experts at a webinar on Saturday said managing primary fuel at an affordable cost has emerged as the biggest challenge for Bangladesh in the volatile global energy market. “The price of liquefied natural gas (LNG) is so volatile globally that it varies from $7 to $29 per MMBtu. Even, the price may go up to $80,” said Dr Izaj Hossain, an eminent energy expert. The webinar, organised by Energy and Power magazine, was also addressed by former power secretary and special envoy to Climate Vulnerable Forum presidency Abul Kalam Azad, former managing director of Petrobangla M Quamruzzaman, and Mohammadi Group’s managing director Navidul Haque. EP editor Mollah Amzad Hossain chaired the seminar. Khodaker Abdus Saleque made a presentation on the issue. The experts said the global prices of primary fuels like petroleum and LNG are going up due to the revival of economic activity across the world following the Covid pandemic shock. Read: Summit signs MoU with Commonwealth LNG to help supply fuel to Bangladesh

Energy experts at a webinar on Power System Master Plan advised the government to lay more emphasis on the development of renewable energy and revise the current master plan in an integrated manner keeping all options open for primary energy sources.

Energy experts at virtual seminar on Wednesday said that the new energy regulatory bill will not protect consumers’ right.