New Delhi: July 24 (ANI): Minister of State for Power, Coal and New and Renewable Energy Piyush Goyal today said that the Central Electricity Regulatory Commission (CERC) has played a parenting role in the regulatory set up in the country.
Speaking at the function of CERC’s foundation day here, Goyal said that CERC has acted as benchmark regulator in the country.
Complimenting CERC for completing 17 years of remarkable contribution and service to the nation, he said that the regulator has to act as a bridge between developers and the consumers and the regulator simultaneously balancing the interest of both parties.
He expressed his satisfaction that the regulators in India have contributed immensely in this regard. Goyal narrated five principles of proportionality, consistency, accountability, transparency and targeting for better productivity.
Goyal underlined the need for fast decision making and also to keep power affordable.
Member of Parliament M.J. Akbar in his annual day lecture on the occasion emphasized the role of electricity in enhancing productivity of work, creation of jobs, elimination of poverty and democratisation of knowledge.
The chairperson of CERC, Gireesh Pradhan, said that the institute has contributed to the growth and development of power sector over the years.
The Minister of State for Power, Coal and New and Renewable Energy also inaugurated the modified website of CERC on the occasion. The website is given a new presentation in order to improve user interface and to provide better access to information to the masses.
Goyal also unveiled new logo of CERC along with the website. The new logo was designed by National Institute of Design, Ahmedabad, to symbolise the changing face of CERC in the country from merely being a “tariff setter” to a “facilitator of development” of power sector and the market.
The existing logo of CERC was designed in late 1990s which basically focussed on CERC role of being fair and impartial regulator balancing the interest of generators of power and the consumers.
The CERC was established in 1998 under Electricity Regulatory Commission (ERC) Act, 1998. The main objective of CERC is to monitor power tariff regulations in the country. The Commission intends to promote competition, efficiency and economy in bulk power markets, improve the quality of supply, promote investments and advise government on the removal of institutional barriers to bridge the demand supply gap and thus foster the interests of consumers. (ANI)