Addressing the Power Forum 2019 here organised by the India Energy Forum, CERC Chairman P.K. Pujari said the new regulations are being designed to boost the performance of the power sector.
He hoped that with the proposed regulations, "the power sector as a whole will take off and reach the desired destinations."
Speaking at the event, Madhya Pradesh Energy Secretary I.C.P. Keshari opposed any 100 per cent privatisation of state distribution companies (discoms) and said that Madhya Pradesh's power subsidies are likely to exceed Rs 20,000 crore by next year, as against its estimated subsidy of Rs 18,000 crore for current year.
"The state discom is unlikely to afford such a high sum and, therefore, a complete political consensus is essential so that thefts are prevented and power tariffs are made in a fashion that these become sustainable for complete professionalisation of the power sector," "eshari said.
Subsidies are uncalled for as these put financial burden on the state exchequer and a mechanism should be evolved so that the power sector becomes efficient and sustainable, "though its complete privatisation is not a suitable solution", he said.
Complete privatisation of the power sector is a "r"ad block","and if it has to happen, it should be implemented in a ratio of 70:30, he added.
( With inputs from IANS )