Energy Industry Act 2007
The Act aimed to promote the efficient energy industry operation and ensure fairness for both licensees and energy consumers; also, to promote economical and efficient use of energy and resources in the energy industry operation, with due consideration of the environmental impact and the balance of natural resources; and to promote the use renewable energy that has less adverse impact on the environment in the electricity industry operation.
The Act established the principles of the regulatory framework for the power and gas sectors, and the institutional arrangements for the separation of policy and regulation. The Act introduced the notion that tariffs should be cost reflective, should ensure efficient and adequate supply, but should be fair, and should allow for explicit support of the poor. In this regard, the Act also established a Power Development Fund, with the aim of supporting development at the local level and the promotion of renewable energy, among other objectives.
The Act established the principles of the regulatory framework for the power and gas sectors, and the institutional arrangements for the separation of policy and regulation. The Act introduced the notion that tariffs should be cost reflective, should ensure efficient and adequate supply, but should be fair, and should allow for explicit support of the poor. In this regard, the Act also established a Power Development Fund, with the aim of supporting development at the local level and the promotion of renewable energy, among other objectives.
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