BENGALURU: Karnataka Electricity Regulatory Commission (KERC) Chairman M K Shankarlinge Gowda has said trading of electricity through Open Access System will turn out to be an accepted norm in the near future.

In his address at a workshop on Power Sourcing and Open Access System in Karnataka organised by Bangalore Chamber of Industry and Commerce (BCIC) in Bangalore on Tuesday, Gowda said it is forecast that India will emerge as the third largest economy in the world after US and China. 

"In view of this backdrop, there will be a huge demand for power in the country in the coming years. To cater to this demand Open Access System probably will be a major player in the future,” he said.

On the draft Bill on Electricity Act pending in the Parliament, the KERC chairman said in order to develop uniform practices, the Centre needs to make guidelines and States should make laws as per those guidelines. He added that “cost to serve’ aspect should be taken care in the tariffs determined for different consumer categories.”

In May 2018, India ranked 4th in the Asia Pacific region out of 25 nations on an index that measures their overall power growth, the BCIC said in its press release.

BCIC president Kishore Alva said electricity demand in the country has increased rapidly and is expected to rise further in the years to come. In order to meet the increasing demand for electricity, massive addition to the installed generating capacity was required.

The Centre's focus on attaining ‘Power for all’ has accelerated capacity addition in the country. At the same time, the competitive intensity is increasing at both the market and supply sides, he said.