Energy Conservation Fund to become Authority

Hiran H.Senewiratne

NEW ACT: The Government will convert the existing Energy Conservation Fund (ECF) into an Authority, to regulate energy efficiency and conservation programmes specially among bulk consumers.

The new Authority will be named “Sustainable Energy Authority” and the Act will be passed in Parliament in the near future, General Manager- ECF Harsha Wickramasinghe said.

The new Authority would regulate energy efficiency once it comes into operation, which at present does not have the authority to regulate energy efficacy activities in the country.

Once the Authority is established it would implement a five-year energy conservation programme islandwide and also set up energy consumption Benchmarking systems targeting commercial buildings including hospitals, factories and other institutions.

At present, ECF is in the process of evaluating certain industries, which would come under its purview, he said.

Under the five-year plan renewable energy development will be formalised encompassing all the renewable resources in the country. With the formation of the Authority, wind power, bio mass and solar power will be considered as equal important sources of energy as hydropower, he said.

With the five-year plan bio mass and wind power resources will be developed as it is like the hydropower and be formalised to harness maximum utilisation, he said. It will also set up an energy consumption benchmark process for commercial buildings to promote the energy efficiency in the country, he said.

Proposed Authority will also set a one-stop shop to expedite the power project approvals as well since it takes more than two years for an approval now, he said. It will also provide free consultancy services and concessionary fiances for commercial organisations to adopt energy conservation systems as well, he said.

The Authority will also help and guide commercial buildings on how to conserve energy to cut down their cost on energy, which is increasing at an alarming rate during the last many years, he said.