Analysis of Energy Sector of Bangladesh’s to Ensure the Route of Vision 2041

Abstract

Energy is a major driving force for economic and socio-economic development of a country. Throughout the last decade Power & Energy Sector of Bangladesh has been undergone unprecedented transition towards realizing its targets set for achieving Visions (2021 & 2041). Keeping pace with the economic growth, all out efforts have been undertaken in Power & Energy Sector. As Per successful implementation of PP 2021 and MDGs, the power and energy sector targets of PP2041 and SDG7 are reasonably expected to be realized in due course. The sector is moving towards achieving long term targets to ensure energy sustainability 33,000 MW plant generation capacity, maximum peak demand 29,300 MW (in 2030), and 56,734 MW plant generation capacity, maximum peak demand 51,300 MW (in 2041). This is an appropriate time to review the achievements so far. The main objective of this research paper is to analyze the performance of the energy sector over the last decade in order to identify the areas of weaknesses and challenges and to present a set of recommendations on long term sustainability. From methodological point of view, the current practice is to analyze a gap in the sector aimed at identifying weaknesses. Therefore, this study focuses on the following issues in the energy sector of Bangladesh’s to ensure the route of vision 2041: (i) Perspective Plan 2041 for Energy Sector in Bangladesh; (ii) Present status of Electricity Generation in energy sector of Bangladesh (iii) Energy Pricing and Policy in Bangladesh (iv) Major Initiatives in Energy Sectors of Bangladesh (v) Challenges faced by vision 2041 in energy sector of Bangladesh. Energy plays an important role in the development and security of any country, poverty eradication, economic growth and sustainable infrastructure. Therefore, future economic growth will depend significantly on the availability of electricity.