Price Of One Metric Tonne Oil Equivalent For PAT Cycle III

The Ministry of Power (MoP) has introduced amendments to the existing Energy Conservation Rules. MoP has issued “Energy Conservation (Energy Consumption Norms and Standards for Designated Consumers, Form, Time within which, and Manner of Preparation and Implementation of Scheme, Procedure for Issue of Energy Savings Certificate and Value of Per Metric Ton of Oil Equivalent of Energy Consumed) Amendment Rules, 2023.” These regulations have come into force from December 27, 2023.

Sone of the main aspects of these amendment regulations are as follows:

1. Revised Value for Energy Consumption

The amended rules introduce a new sub-rule (2C). Under the new sub-rule (2C), the value of per metric tonne of oil equivalent of energy consumed is fixed at twenty-one thousand six hundred and fifty rupees (Rs. 21,650) for the year 2019-20. For subsequent targeted years, the Central Government has been empowered to specify the amount through notifications in the Official Gazette.

2. Implications for Designated Consumers

Designated consumers, entities identified for their significant energy consumption, will need to adhere to the revised norms and standards outlined in the amended rules. The updated regulations aim to drive greater energy efficiency, reduce carbon footprints, and contribute to the nation’s overall sustainability objectives.

With an ever-growing emphasis on environmental sustainability and responsible resource management, the MoP’s amendments to the Energy Conservation Rules foster a culture of energy efficiency and environmental stewardship. The revised rules are expected to play a crucial role in guiding businesses and industries towards a more sustainable and responsible approach to energy consumption.