The energy-power sector is facing major challenges due to the dollar crisis in the country and the increase in fuel prices of the world market as they had to spend the last year facing many challenges.
However, there is growing concern about uninterrupted power supply this year. Meanwhile, Bangladesh Petroleum Corporation (BPC) is in trouble to pay the bills of suppliers due to the dollar crisis. Bangladesh Power Development Board (BPDB) is under huge pressure from private power generation companies (IPPs). The ongoing crisis in the power and energy sector will remain a cause for concern in the new year, said concerned.
Meanwhile, various plans have been taken to meet the demand for electricity and gas this year. Besides, they think the dollar crisis is a big challenge to meet these expectations. The most challenging time in the power and energy sector is summer, Ramadan and irrigation season. During this period, the demand for electricity and energy in the country increased the most. Ramadan and irrigation season will start in March this year. In all, the demand for electricity will increase by 1,500 MW from last year. At this time, the demand for gas has been estimated at 1,760 million cubic feet, which can be at least 1,540 million cubic feet to meet the potential demand of 17,800 MW of electricity.
In addition, the demand for furnace oil is likely to be 1,54,950 tonnes and diesel demand is likely to be 15,600 tonnes. Initiatives have been taken to ensure fuel oil reserves to keep the production capacity of at least two months in the power generation plants. There is no shortage of furnace oil and diesel and will be supplied as per demand.
Petrobangla said the demand is increasing day by day which lead the shortage. The dollar crisis is a big challenge this year. The daily demand for gas is about 4,000 million cubic feet, while the supply is below 3,000 million cubic feet. Of this, 2100 million is from domestic gas fields, and more or less 800 million is being imported. The import of LNG required for the dollar crisis is being hampered.
According to OilPrice.com, the price of West Texas Intermediate (WTI), the crude oil in the US market, is currently fluctuating at $ 72. And the price of Brent crude oil is fluctuating between $ 77. In addition, the price of liquefied natural gas (LNG) in the spot market is fluctuating at $ 11.52 per million metric British thermal unit (MMBtu). On the other hand, the price of coal is fluctuating at $ 118 per ton. In the international market, the price of coal rose to $ 180 per ton last year. In addition, the price of crude oil rose to $ 130 per barrel and the price of LLG rose to $ 38 per MMBtu in the spot market. As a result, there is less certainty that fuel prices will not be unstable in the new year.
Energy experts said the power and energy sector is facing multiple challenges. These challenges have had a major impact on the dollar crisis in the country and the destabilization of energy products in the international market.
Meanwhile, a master plan has been taken to explore oil and gas in the country to deal with the crisis. The target of digging 46 wells has been increased to 48. Nine wells were drilled in the project, out of which gas was found in seven. It has added 125 million cubic feet of gas. This will increase production capacity.
Oil has been discovered in the first stage by drilling well number 10 of Sylhet gas field. Power Cell said various plans have been taken to keep the supply of electricity in demand this year. The customer will be relaxed. However, the price of electricity will be increased. On the other hand, the BERC has started to increase the price of residential gas customers.
Power Cell Director General Engineer Mohammad Hossain said, "We have two challenges in the power sector in the new year. Firstly, the provision of primary fuels and secondly, the provision of necessary money and foreign currency for the import of energy in this sector. Despite these crises last year, we provided electricity to the customers as per their demand."
Energy expert and former BUET professor Dr Ijaz Hossain said the price of fuel in the world market has fluctuated significantly. Among them was the discomfort of increasing the price of electricity and fuel. Even in the new year, there is no opportunity to get relief in this sector as the problems are still ongoing. At present, economic activities are stagnant. As a result, this doubt will be bigger if there is not enough dollar supply as well as financial supply.
Meanwhile, State Minister for Power, Energy and Mineral Resources Nasrul Hamid has directed to maintain uninterrupted power and energy supply. He also directed the two departments to prepare a 100-day plan immediately.
Addressing the officials in charge of the power and energy sector, the state minister said, "Make responsible contributions from their respective positions in the supply of uninterrupted electricity and energy. In the global context, the challenges of energy and electricity will increase. If we work with skilled hands and sincerity, the days ahead will be better and better by overcoming all the challenges.
Recently, the state minister said that the work of gas exploration, Bhola gas pipeline, gas master plan and deep drilling needs to be done on an urgent basis. Dynamic pricing will come. We have to make quick decisions to adapt ourselves to change.
ARS
