Bangladesh has moved 7 notches up in the Energy Architecture Performance Index (EAPI) 2016.
The Geneva-based global World Economic Forum (WEF) in its ‘Energy Architecture Performance Index (EAPI) 2016’ put Bangladesh at the 106th position, 7 notches up from 112th in the EAPI 2015, report agencies.
Apart from the progress in the EAPI ranking, Bangladesh also achieved a higher overall score for better energy management towards economic growth and development, environmental sustainability and energy access and security.
Bangladesh earned a total score of 0.50 on the scale from 0-1 this year against 0.45 last year.
The progress was shared by three major areas, including economic growth and development (from 0.52 to 0.63), environmental sustainability (from 0.39 to 0.44) and energy access and security (from 0.44 to 0.45).
Switzerland topped the index scoring 0.79 while Norway scored 0.78 to get the 2nd position.
Sweden, France and Denmark were also among the top five positions, with the score of 0.76 each.
Expressing their reaction over Bangladesh’s elevation in the EAPI ranking, experts have said, this has been possible due to better management in energy pricing.
“This has been possible due to better management in energy pricing,” said Prof M Tamin of Buet was quoted by a local news agency as saying. He said that the government’s loss in energy business has come down significantly due the declining energy price on the global market.
“If the government wants the success to continue, a cost-based energy pricing, particularly in petroleum fuel, must be introduced,” he said.
In that case, the pricing methodology and every component of the pricing must be transparent, he added. -bz