URA Initiates Energy Supply and Demand Study

20 Dec 2023

The Utility Regulatory Authority (URA) has commenced the development of the Energy Supply and Demand Study with an inception meeting on 18th December 2023, involving the consultant Sri Lanka Energy Managers Association in partnership with Epoch Associates Pvt. Ltd and the CBIT Maldives project. Following the inception meeting, separate meetings were held with key stakeholders, including the Energy Department of the Ministry, STELCO, FENAKA, and the Maldives Customs Service and Fuel Supply Maldives.

This initiative, part of the “Capacity Building for Improved Transparency of Climate Change Mitigation and Adaptation Actions in the Maldives” (CBIT Maldives), will support the development of the Energy Supply and Demand Study for the Maldives for the years 2018–2022 and will build the capacity of relevant stakeholders in energy statistics and energy balance. Additionally, it will aid in establishing a mechanism for the continuous publishing of the Energy Supply and Demand report and develop a method for URA to verify power production data.

Aligning with the Maldives’ transparency efforts in accordance with the Enhanced Transparency Framework (ETF) of the Paris Agreement, the CBIT Maldives project aims to strengthen long-term institutional arrangements, systematize data collection and processing, and develop indicators and methodologies. Furthermore, the project seeks to improve overall data quality and management procedures for GHG inventories, mitigation and adaptation actions tracking, and climate finance, ensuring regular and transparent reporting to the United Nations Framework Convention on Climate Change (UNFCCC) process. These efforts are instrumental in informing national decision-making processes and contributing to the effective management of climate change challenges.

The CBIT Maldives project is funded by the Global Environment Facility (GEF) and executed by the Ministry, with implementation support from the United Nations Environment Programme (UN Environment).