Rethinking electricity laws for business

Healthy competition should be encouraged as it usually benefits energy consumers.

After over a decade of deliberations, the Electricity Bill 2023 has been reintroduced in the federal Parliament. The much-awaited bill is important because it proposes several provisions that seek to eliminate lacunas in Nepali electricity law by providing an explicit legal basis to commence major overdue reforms. As electricity is the lifeblood of modern civilisation, it commands a vital role in the economy, but Nepal has strategised the growth of its economy around its electricity generation potential. This makes it crucial for the bill to be thoroughly analysed from business dimensions and for provisions to be incorporated so that the private sector can be mobilised to optimally contribute to the electricity industry and business-doers in Nepal are allowed to reap tangible benefits.