Industrial energy demand in India has almost doubled in the last five years and it is expected to go up by over three times between 2012 and 2040. Therefore, adopting energy efficiency Initiatives and following best practices in this regard would be helpful in reducing the energy demand and strengthening energy security, stated RK Singh, Union Minister of State for Power and New & Renewable Energy (IC) and Skill Development & Entrepreneurship stated at the inauguration of the National Conclave on Enhancing Energy Efficiency in MSME sector.
The Minister further said that upcoming New Tariff Policy proposes DBT (Direct Benefit Transfer) method for transfer of power subsidies and this would incentivize energy saving by consumers. He also stressed upon the need to make electricity prices rational for MSMEs. Towards this end, the New Tariff Policy provides a trajectory to reduce cross subsidies, he said. The Policy also has provision for providing open access in a time bound manner, the Minister noted.
