India to set up single energy watchdog

NEW DELHI, Dec. 29 (UPI) -- India says it is considering setting up a common energy regulator for the power, coal, oil and gas sectors.

The process may be started by setting up a hydrocarbon regulator and eventually an all-encompassing super-regulator has been proposed, which would include electricity in its power domain, The Economic Times newspaper said Wednesday.

The proposal was discussed recently at the top level in the government, where the need to bring the coal sector into the regulatory network was emphasized.

While the oil sector already has a directorate general of hydrocarbon to watch exploration and production of oil assets, a regulator for the gas sector will soon be in place, said a Petroleum and Natural Gas Ministry official.

The coal sector is unregulated, however. Even the expert committee on integrated energy policy headed by Kirit Parikh also suggested the need to include coal under the regulator to curb the power of government's committees for determining coal prices for different user industries.

The official said the broad consensus was emerged on a single regulator at a recent meeting of the prime minister's energy coordination committee.

The government is concerned over the proliferation of regulatory bodies and considering three multisectoral regulators in infrastructure sector: one for energy, communications and transport sectors, the official said.