India plans forecasting model for power supply and demand

India plans to base its policy decision on energy through a forecasting model for demand and supply.

The model will be handy to predict demand, supply and pricing more objectively and in a manner, which will help to optimize natural resources, said Planning Commission Adviser-Energy Anil K Jain.

The proposal has in-principle approval of the Prime Minister and the task to set up a model is entrusted to Planning Commission.

Apart from India, China is also in talks with UK's Department of Energy and Climate Change to set up a similar model.

"This will be the government's own energy model, which will provide energy pathways for four decades. This will provide effective tool for taking energy related policy decisions in an integrated manner," Jain said. The model will be handy to predict demand, supply and pricing more objectively and in a manner, which will help to optimize natural resources, he added.

The Planning Commission is creating this energy model because the country has separate ministries and departments for different types of energy such as coal, power, petroleum, nuclear and renewable. It will also guide Indian negotiators in taking stand at international forums, especially on the climate change, he said.

Bangalore-based Center for Study of Science, Technology and Policy is assisting Planning Commission in setting up the model.

Jain said almost all developed nations have their own energy models that help them in taking crucial policy decisions regarding demand, supply, pricing and utilization. US Energy Information Administration is one such model that keeps global energy data and has been a resource center for various countries including India.

Apart from India, China is also in talks with UK's Department of Energy and Climate Change to set up a similar model.

https://economictimes.indiatimes.com/news/news-by-industry/energy/power/india-plans-to-develop-a-forecasting-model-for-energy-demand-and-supply/articleshow/18027220.cms