New Delhi: The Central Electricity Regulatory Commission (CERC) has marked a significant milestone with the inauguration of its new office space at the World Trade Centre, Nauroji Nagar, Safdarjung Enclave, New Delhi. The ceremony, held today, was graced by the presence of the Union Minister for Power and New & Renewable Energy, R. K. Singh.
Addressing the gathering of CERC officers, staff, and power sector stakeholders, R. K. Singh emphasized the pivotal role regulatory commissions play in shaping the power sector’s dynamics. He acknowledged the responsibilities of both CERC and State Electricity Regulatory Commissions (SERCs) in determining the functioning and viability of the power system.
“Regulatory commissions are the fulcrum of the power system. The whole system depends on you – on the regulations you come out with, on the tariff decisions you take and on the passthroughs you allow or do not allow,” stated the Union Minister.
Highlighting the challenges faced by regulatory commissions, Singh stressed the delicate balance needed to ensure the system’s viability while protecting public interest through affordable electricity tariffs. He underscored the need for timely decision-making to accommodate the rapid expansion of the power sector and meet the rising demand for electricity.
“The whole system and the whole power sector are changing. We are expanding and will continue to expand. We need to strengthen all our systems, whether it is generation, transmission, or distribution,” he added.
R. K. Singh emphasized the importance of attracting private investment to meet the substantial investment demands. He acknowledged the evolving nature of the electricity sector, introducing new players, systems, and products, particularly with the increasing emphasis on renewable energy.
“The nature of electricity is changing. We are adding more and more renewable capacity, which is leading to other challenges such as stability and storage. Storage capacity will expand, and we will have new players, new types of systems, and new products,” he remarked.
The Union Minister urged regulators to stay abreast of the changing landscape and ensure that regulations are aligned with modern requirements. He emphasized the critical role of energy storage and the need to make it financially viable and attractive.
In closing, R. K. Singh expressed confidence in the capability of CERC to handle challenges and suggested that the commission might require additional members in the future.
The Chairperson of CERC, Jishnu Barua, thanked the Minister for the approval of the new office premises and provided insights into the Commission’s ongoing activities, including the finalization of tariff regulations.
The new office space at the World Trade Centre comprises the 6th, 7th, and 8th floors, covering approximately 54,500 sq. ft of carpet area. R. K. Singh commended the architecture and furnishings of the new premises, extending his best wishes to the CERC community.