Cabinet approves MoU between India and US to exchange information in electricity sector
The MoU will help in improving regulatory and policy framework for developing efficient wholesale power market and enhancing grid reliability
India and the United States will now be able to exchange information in areas of mutual interest in the electricity sector as the Union Cabinet, under the chairmanship of Prime Minister Narendra Modi has given its nod to a proposal by the Central Electricity Regulatory Commission (CERC).
The CERC had proposed entering a Memorandum of Understanding (MoU) with the Federal Energy Regulatory Commission (FERC) of the US allowing both to exchange information and experiences in areas of mutual interest in the electricity sectors.
According to an official statement released by the Ministry of Power, the MoU will help in improving regulatory and policy framework for developing efficient wholesale power market and enhancing grid reliability.
Once in place, the MoU will allow both to perform a variety of activities ranging from identifying energy related issues to exchange the information through seminars and visits among others.
The MoU will enable both parties to identify energy-related issues and develop topics and possible agendas for the exchange of information and regulatory practices in areas of mutual interest.
It will also allow both to organize visits by Commissioners and/or staff to participate in activities at each other’s facilities and participate in seminars. In this sequence, the MoU will also allow both to organise visits and exchanges.
Similarly, the MoU will also provide speakers on energy issues and other personnel (management or technical) when practical and of mutual interest, the statement said.
Apart from that, the MoU will also allow both of them to develop programs of mutual interests and where appropriate hold these programs locally to enhance participation.