The Bangladesh Energy Regulatory Commission (BERC) has cut furnace oil prices for public and private power producers and industries by 18 percent, from Tk 86 to Tk 70.10 per litre.
the commission set the rate for the ?rst time, following a public hearing last month. Previously, the Bangladesh Petroleum Corporation (BPC) used to determine the price on its own. BPC sells around 8-9 lakh tonnes of furnace oil annually, mainly to public power generation companies, as well as to some private power producers and industries.
at a hearing on January 29, the Bangladesh Power Development Board (BPDB) alleged that BPC had charged up to Tk 644 crore more than the actual supply cost over the past one and a half years.