Indian Power Sector: Legislations, Policies & Regulations

Indian power sector has completed almost one and half century. During this period, many structural changes have been practised which along with liberalisation provided directional and progressive approach to the industry. Globally, Indian power system is the third largest in terms of generation capacity. Transmission and distribution systems have been strengthened enough to cater the load pattern. India is almost meeting its electricity demand, as well as exporting surplus power to the bordering nations. This standing is not attained in one day, rather, it has been the gradual development. Various legislations, policies and regulations notified time to time have been key to this growth. These documents often advocate sectoral efficiencies to achieve financial and commercial viability leading into economic growth of the nation. The rapid nature of power sector provides an opportunity to consolidate holistic view of the sector and prepare a paper which can be instrumental to understand the growth in policy context. Therefore, this paper first deliberates the sectoral evolution and then confers the present law, policies and regulations. Before concluding, the paper provides an insightful discussion on the trends of power sector inter alia including upcoming products envisaged for transforming the sector.