Bangladesh Economic Update, November 2014
The current issue of the Bangladesh Economic Update attempts to reveal current nature of power and energy situation to evaluate the energy security in the country. Shortage of power supply, depletion of gas reserve, and frequent price hikes in energy are not only exerting immense pressure on current production, but also posing a serious threat to energy security.Energy security is simply defined as the uninterrupted supply of energy from available sources at a reasonable price with even distribution (IEA, 2014; EU 2014). Diversification in power generation capacity, stable price level and infrastructure development determine the secure supply of energy .On the other hand, dependence on concentrated suppliers, lack of expertise, and unfavorable political situation, both the internal and the international can peril the energy security of a country.Based on the definition of the energy security, it can be said that Bangladesh has to walk a long way to secure its energy sector. Increase in population, expansion of production in agriculture and industry, fast urbanisation, and development in road and transportation have increased the demand for energy but the supply is not sufficient to satisfy the demand.