New Delhi: Lauding regulator CERC's role in the rise of the power sector, Union Minister Piyush Goyal on Friday stressed the need for keeping electricity affordable while protecting interests of both developers and consumers.
"The CERC has acted as a benchmark regulator in the country. The regulator has to act as a bridge between developers and consumers... Simultaneously balancing the interest of both parties," Goyal said at the CERC's foundation day here.
He further said that regulators in India have contributed immensely in this regard.
He narrated five principles of proportionality, consistency, accountability, transparency and targeting for better productivity.
Goyal underlined the need for fast decision making and keeping power affordable.
Rajya Sabha member M J Akbar in his annual day lecture, emphasised the role of electricity in enhancing productivity of work, creating jobs, eliminating poverty and democratisation of knowledge.
CERC Chairman Gireesh Pradhan said the institute has contributed to the growth and development of power sector over the years.
On the occasion, Goyal also inaugurated the modified website of CERC. The website with a new look is aimed at improving user interface and providing better access to information to the masses.
The minister also unveiled new logo of CERC along with the website. The new logo was designed by National Institute of Design, Ahmedabad to symbolise the changing face of CERC in the country from merely being a "tariff setter" to a "facilitator of development" of power sector and the market.
The existing logo of CERC was designed in late 1990s which basically focussed on CERC role of being fair and impartial regulator balancing the interest of generators of power and the consumers.
The CERC was established in 1998 under Electricity Regulatory Commission (ERC) Act, 1998. Its main objective is to monitor power tariff regulations in the country.