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 "Bangladesh Faces Power Crisis as Adani Group Reduces Electricity Supply Over Unpaid Dues"

Electricity Crisis in Bangladesh The Impact of Unpaid Bills and Rising Costs

The reduction in power supply by Adani Power has added urgency for Bangladesh to find alternative solutions for its energy needs while grappling with financial limitations. In response, the Bangladesh Power Development Board (PDB) and central bank officials are exploring alternative banking arrangements to facilitate timely payments. Some officials have suggested shifting dollar transactions from Sonali Bank, which has struggled with dollar shortages, to a bank with stronger reserves. This may help ensure smoother payments in the future, but the underlying issue of high electricity costs under Adani’s PPA remains contentious

To ease financial strain, Bangladesh’s interim government has approached international bodies, such as the International Monetary Fund (IMF), for emergency loans. An additional $3 billion loan would bolster foreign reserves and potentially enable Bangladesh to fulfill its outstanding obligations to Adani and other international suppliers. However, securing such support hinges on the IMF’s assessment of Bangladesh’s fiscal stability and repayment capacity amid dwindling foreign reserves​

The energy crisis has also sparked public debate within Bangladesh about the long-term sustainability of high-cost international energy agreements, like the one with Adani. Critics argue that while international energy imports are crucial, dependence on costly power deals may not align with Bangladesh’s long-term economic and energy security interests. As calls for contract renegotiations intensify, experts and policymakers are weighing the need to reassess not only Adani’s contract but potentially other high-cost energy imports​

The Adani power supply cut serves as a critical juncture for Bangladesh to evaluate its energy strategy and explore diversifying its energy mix, possibly by enhancing domestic energy production and exploring regional partnerships for more affordable imports. As the situation unfolds, the Bangladeshi government faces the complex task of balancing energy reliability with financial prudence, aiming to prevent future energy crises while securing stable and cost-effective energy sources for the country’s growing needs.

As Bangladesh faces its energy crisis with Adani Power, the situation is pushing its government to reassess both immediate solutions and long-term energy strategies. Bangladesh’s dependency on foreign energy imports, particularly from India, has grown in recent years, as rapid industrialization and population growth increased energy demand. The high cost of imports, however, raises concerns about economic sustainability. For instance, Bangladesh already imports electricity from other Indian sources at lower costs than from Adani Power’s Jharkhand plant, which is billed at a premium rate due to its unique coal-based pricing structure. The added cost has heightened calls for transparency and more competitive pricing in future energy agreements

Beyond Adani, Bangladesh’s energy strategy may need to include increased investment in local resources and renewable energy. Bangladesh has potential for renewable sources like solar and wind, yet currently relies heavily on natural gas and coal, much of which is imported. This crisis could encourage accelerated development of domestic renewables, which would reduce the vulnerability tied to international energy contracts and volatile coal prices​

In the interim, the government has been looking at short-term financial adjustments to stabilize energy supplies, including shifting foreign currency allocations and exploring emergency loans. But unless significant reforms and investments are made, future reliance on expensive imports could continue to burden Bangladesh’s economy. The need for diversified energy sources, both imported and domestic, is now at the forefront of discussions among policymakers, who recognize that balancing affordable energy with financial sustainability is essential for Bangladesh’s future growth​

Bangladesh’s experience with Adani may serve as a case study for countries navigating energy import agreements amid financial constraints. Moving forward, both the public and private sectors in Bangladesh are likely to push for more flexible and transparent contract terms, especially in areas such as coal pricing and currency provisions. The goal would be to avoid similar payment-related interruptions, safeguard energy security, and ultimately achieve a more balanced and resilient energy portfolio.